Myers Methods Presents Multifamily Missteps Podcast

Check back regularly to catch up on our podcast

 

Multifamily Missteps Hosted by Jerome Myers

How Do You Attract Them to You (Tue, 20 Jul 2021)
Attracting people to invest with you may look difficult since you are persuading strangers to share their hard-earned money with you. That is not necessarily the case in real estate. You can actually attract people with the right mindset and right reasons coupled with enough knowledge and perseverance. If you specifically know how to manage risks, that will be a big bonus too. Joseph Pinkney has learned these lessons for his real estate investing and is now primed for long-term success in this industry.  [00:01 - 02:39] Opening Segment  I welcome today’s guest, Joseph Pinkney [02:40 - 12:14] Generating Cash Flow Today  Creating cash flow today from multifamily  Why multifamily over single family The benefits of having higher debt [12:15 - 21:57] Working with a W2 and Investing in Real Estate How debts can generate cash flows  Here’s why you should be aggressive with your savings  Higher salary means more happiness The road to financial freedom  [21:58 - 25:36] Closing Segment Dealing with people with love and compassion Find Joseph at the links below Final words Tweetable Quotes: “The only way that you get financial freedom is through ownership.” - Jerome Myers “You mitigate risk through knowledge.” - Jerome Myers Resources mentioned Robert Kiyosaki Grant Cardone Dave Ramsey  You can connect with Joseph by emailing j.pinkney33@gmail.com or get in touch with him on LinkedIn.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


How to Build a Multifamily Brand - Oliver Perry (Wed, 14 Jul 2021)
Building your brand, whether you’re in real estate or another platform, requires you to identify who you want to serve and in turn determine how your service or skill addresses their problems. This is what Oliver Perry has learned so far in the multifamily real estate space. If the avatar is well defined, then the solutions will be clear. If there is clarity in the solutions he offers, then he’ll slowly be able to build a brand that’s unique to him.  [00:01 - 03:22] Opening Segment  I welcome today’s guest, Oliver Perry  [03:23 - 11:28] Multifamily is a Math Problem  Handling direct-to-seller conversations Who should be your target market?  Mastering the underwriting process [11:29 - 20:35] Building a Multifamily Brand  Building your brand as a real estate investor The question to ask to start building your brand  The 2 reasons people take action, real estate or not [20:36 - 26:26] Closing Segment The importance of sales copy in your real estate investing Find Oliver at the links below Final words Tweetable Quotes: “Every decision that you make should be with your avatar in mind.” - Jerome Myers “How do we actually create traffic? One is letters, two is phone calls, three is text messages, and four is networking.” - Jerome Myers “What problem do you solve and how can you actually help people by solving that problem?” - Jerome Myers “There is some selling in everything that you write.” - Jerome Myers “The numbers just tell the story of the property.” - Jerome Myers You can connect with Oliver by emailing info@theoliverperryshow.com or get in touch with him on LinkedIn, Facebook, YouTube, and Instagram. Check out The Oliver Perry Show and learn how to grow your money through real estate!  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Should I Sign a Loan Without Voting Rights? Chalmette Ray (Tue, 13 Jul 2021)
Investors would not co-sign a loan for their little cousin, so there’s no reason they will for a stranger they barely know. Chalmette Ray has learned this lesson, alongside other important facts on syndications and joint ventures and limited and general partners. She has also realized that investments and businesses are two different things and that one is advised to be done before the other due to some practical reasons.  [00:01 - 07:35] Opening Segment  I welcome today’s guest, Chalmette Ray Chalmette talks about her inspiring journey to real estate  [07:36 - 17:12] Syndication vs. Joint Venture  Why syndication is more popular than joint venture (JV) The role of limited partners in syndications and JVs Should you be an active operator or a passive investor? [17:13 - 27:47] Business or Investment The advice you need to hear about building a business or an investment  Let’s talk about risk in real estate  Facts about vertically integrated firms you need to know now  [27:48 - 35:07] Voting Rights in a Loan  Signing a loan with--or without--voting rights Here’s an interesting thought about convenience in real estate investing [35:08 - 36:31] Closing Segment Find Chalmette at the links below Final words Tweetable Quotes: “The difficulty in being in a joint venture is the same as it is with being a general partner.” - Jerome Myers “Business owners are able to grow and create equity, you have the leverage, you know how to pull them. And in that operation, you take that equity created, and then you drop that down into the investment.” - Jerome Myers Resources Mentioned Keller Williams Robert Kiyosaki Book: Rich Dad's CASHFLOW Quadrant You can connect with Chalmette by emailing chalmetteray@outlook.com or get in touch with her on LinkedIn, Facebook, and Twitter.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Ego in Real Estate - Julie Holly (Tue, 29 Jun 2021)
Ego is a common obstacle that keeps people from succeeding in their personal endeavors. The same is the case in the real estate industry. If you are not willing to take the time and effort and only looking for a shortcut, you might feel that the industry has failed you, when in fact, you’ve failed yourself. Julie Holly believes that investing in real estate should be purpose-driven and not solely motivated by money.  [00:01 - 03:41] Opening Segment  I welcome today’s guest, Julie Holly  [03:42 - 11:41] Wrestling With Your Ego  How to manage your ego while investing in real estate  The cold hard facts of real estate investing  Should you be a sophisticated investor?  [11:42 - 22:06] Being Disciplined in Real Estate  The frustrating part of investing in real estate The importance of discipline, real estate or not  Investing in one market only Should you do this?  [22:07 - 32:07] Purpose-Driven Investing  How to put yourself in a better position as a property owner  Real estate that is driven not only by money  Are you planning to invest in more than one market?  Here’s Jerome’s advice for you  [32:08 - 39:04] Making Money in Real Estate  Julie breaks down her approach in looking for properties outside her market What you should know about crimes in neighborhoods   The 2 things to make money in real estate, regardless of the market  [39:05 - 40:10] Closing Segment Find Julie at the links below Final words Tweetable Quotes: “If you don’t know what you’re investing in...you end up with a lot of work on your hands.” - Julie Holly “You have to have the discipline and take the time.” - Julie Holly Email julie@threekeysinvestments.com to get in touch with Julie or connect with her on LinkedIn. Visit Three Keys Investment to strategically grow your wealth without working harder. Listen to her on her podcast, Ask Me How I Know: Multifamily & Mindset Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Only 10% of Your List Will Invest - Michael Barnhart and Suzy Sevier (Tue, 22 Jun 2021)
Raising capital is always a challenge. That’s why you “use other people’s money,” as you commonly hear from real estate folks. In the case of Suzy Sevier and Michael Barnhart, they learned that putting up an investor group was not enough.  They learned that they needed to ask and understand how their investors could raise money for their deals. This may be a hard question to ask, but nevertheless, something that should be raised so you will not be surprised if you are not able to raise enough money for your real estate investing.  [00:01 - 03:37] Opening Segment  I welcome today’s guest, Suzy Sevier and Michael Barnhart [03:38 - 08:58] Living Abroad and Investing in US Real Estate  Susy shares the story of how they found the real estate industry  Investing in US real estate while living overseas  Michael tells us why networking is important in real estate [08:59 - 17:05] Not Enough Investors  Suzy breaks down their multifamily deal  The realities of closing a real estate deal Michael shares his thoughts  Suzy talks about their first “hiccup” in raising capital [17:06 - 25:21] Asking the Hard but Needed Question  Why you should your investors how they raise capital  Certified Rent Rolls cannot be relied on and here’s why  What are Certified Bank Deposits?  [25:22 - 27:32] Closing Segment Find Suzy and Michael at the links below Final words Tweetable Quotes: “Networking is a lifeblood of real estate, especially multifamily real estate.” - Michael Barnhart “Every part of the process takes time and takes patience.” - Suzy Sevier Resources mentioned Grant Cardone Brian Briscoe  Reach out to Suzy on LinkedIn or seviersuzanne@gmail.com. Get in touch with Michael on LinkedIn. Check off your bucket list now, not after retirement, with Suzy and Michael. Visit Adventurous REI on Facebook, Instagram, and LinkedIn. Download Suzy and Michael’s free checklist for real estate investing. Start here.  Listen to their podcast, “The Adventures of a Real Estate Investor” Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


What Happens Behind the Scenes? - Daisy Serrano (Wed, 16 Jun 2021)
The best general operators in real estate offer amazing customer relationship management (CRM) with their investors. Since CRM is an important part of raising capital to invest in real estate, should operators also learn how to market well or should they hire a marketer instead? Daisy Serrano learned that operating a real estate deal and marketing are two different skill sets. Not all good operators are good marketers and good marketers are not always the best operators.  [00:01 - 03:33] Opening Segment  I welcome today’s guest, Daisy Serrano From being a teacher to a real estate investor [03:34 - 09:16] Keeping Communications Open Customer Relationship Management in apartment syndication  The things that will make investors and partners satisfied  Listen to our interesting exchange about capital raising  Not all operators are good marketers and vice versa  [09:17 - 21:43] General Operators and Marketers in Real Estate  The most frustrating and disappointing aspect of real estate investing The skills of a good general operator  The most important thing about marketing in real estate  [21:44 - 25:16] Closing Segment Find Daisy at the links below Final words Tweetable Quotes: “We don’t want to always be in the business. We must grow it into a space where it can run without us.” - Daisy Serrano “For the marketing person, they’ve got to have an impeccable reputation. They’ve gotta have the ability to individualize and get to know people, build trust really quickly, and they have to have reach.” - Jerome Myers  Resources mentioned: ActiveCampaign Mailchimp Karl Sona You can connect with Daisy by emailing daisy@makeitraincapital.com or get in touch with her on LinkedIn. Check out Make It Rain Capital to learn more about their work.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Maybe You Can Turn That Storage Space into a Unit - Savannah Arroyo (Tue, 08 Jun 2021)
Do you think that you cannot invest in real estate because you have a full-time job? Do you think busy professionals like nurses should only focus on their work and wait for their retirement in their 60s? Think again. The truth is that you can be a busy professional and a real estate investor just like The Networth Nurse, Savannah Arroyo. Of course, you will make a couple of missteps along the way, but the most important thing is you learn from them and grow from there.  [00:01 - 01:55] Opening Segment  I welcome today’s guest, Savannah Arroyo Find Savannah at the links below [01:56 - 10:51] From A Storage Space into A Studio Unit  Savannah shares her story and she got into the real estate space  Don’t miss Savannah’s main takeaway from real estate investing  Turning a storage space into a storage unit  [10:52 - 19:38] Opportunity for Open Communication  What underwriting approach saved them from this misstep  What Savannah learned from the misstep  Don’t miss Savannah’s words of wisdom! Interrogate your team no matter how experienced they are  [19:39 - 20:52] Closing Segment Final words Tweetable Quotes: “Don’t be afraid to interrogate your team.” - Savannah Arroyo “I think it’s important to ask [your team] very specific questions or even asking them, ‘What’s one of the biggest mistakes you’ve made at your job?’” - Savannah Arroyo Email savannah@thenetworthnurse.com to connect with Savannah or connect with her on LinkedIn, Facebook, and Instagram. Visit The Networth Nurse and their social media pages: Facebook and YouTube. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Why are More People Moving Out than Moving In? - Sonya Rocvil (Tue, 01 Jun 2021)
It is perfectly normal for some people to leave you and come into your life. In real estate, however, it should not be. When the people leaving your properties are more than those who come in, you should realize there’s a problem, and you need to pinpoint and address that problem fast. Luckily for Sonya Rocvil, she realized that there’s something wrong with their property and they were able to address it.  [00:01 - 03:07] Opening Segment  I welcome today’s guest, Sonya Rocvil  Connect with Sonya Links below [03:08 - 13:46] More People Moving Out Than Moving In  How she landed in the real estate space  Why their occupancy rates were not going up What she learned about this misstep [13:47 - 23:02 Digging Deep into The Issues  Learn how to leverage bridge loans  The question you should ask in closing a deal  What changed in their process to make sure the misstep will not happen again [23:03 - 25:54] Closing Segment Don’t miss these words of wisdom from Sonya!  Final words Tweetable Quotes: “You still have to be diligent and you’re screening [potential tenants].” - Sonya Rocvil “You have to be willing to really dig deep sometimes to find out the issues.” - Sonya Rocvil You can connect with Sonya by emailing sonya@bedrockreinvestors.com or get in touch with her on LinkedIn. Check out Bedrock Real Estate Investors to acquire multifamily properties with potential economic growth and opportunities.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Why is Partnering on a Deal Like Getting Married? - Hersh Rai (Wed, 26 May 2021)
You can be the most experienced property manager and not be the “right” manager in the eyes of an investor and that’s okay. All real estate investors have their ideal property manager the same way they have their ideal real estate team and ideal property to acquire. What you should aim for is to stand out in the real estate space, and you can do this by identifying first your “avatar.” By fully knowing who you want to serve, you can craft a message that resonates and attracts the ideal people you want to work with.   [00:01 - 04:59] Opening Segment  I welcome today’s guest, Hersh Rai How to deal with extending closing dates of deals  [05:00 - 13:21] Investor Retention Tips  Don’t look at the investor’s money Should the asset manager also be the manager of the LLC?  Retain your investors with these real estate tips! [13:22 - 22:36] The Ideal Property Manager  How to find the right partner in real estate  The “turn-offs” of a property manager you should watch out for  Listen to this football analogy about the property manager  [22:37 - 30:45] Stand Out in Real Estate Are you ready for a joint venture? Listen to this advice  How to stand out in the real estate space  What to look forward to about multifamily investing [30:46 - 38:45] Being Tax-Efficient  Don’t miss our exchange about taxes  We talk about 1031 Exchanges  How to determine your ideal returns in a deal  [38:46 - 46:17] Real Estate Development  How to know if your money is safe in a real estate investment Real estate development is not for you if…  [46:18 - 50:45] Closing Segment How to call out an “uneducated” prospect without offending them  Find Hersh at the links below Final words Tweetable Quotes: “You’ve gotta figure out who your avatar is and then craft a message specific for that avatar.” - Jerome Myers  “Treat everybody with love.” - Jerome Myers  You can connect with Hersh on LinkedIn and check out Veteran Pride Investment Group to learn more about their work.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


How Can it Be 100% Occupied with No Drywall - Pancham Gupta (Tue, 18 May 2021)
If you lose money, you will normally feel bad and think about where you could’ve spent it. When Pancham Gupta lost $15,000 in a deal, he only felt good. Had he not done his due diligence, he would have lost more money than he expected. Pancham’s story shows you that all kinds of investments have inherent risks, and you should be ready to lose some if you want to gain a lot. You should also be ready to take a few missteps along the way because they will eventually lead you to the path you’re destined to take.  [00:01 - 05:41] Opening Segment  I welcome today’s guest, Pancham Gupta Get in touch with Pancham! Links below [05:42 - 15:35] The Best $15K Pancham Lost  The difference between a real estate investor and a business owner Don’t miss this misstep from Pancham! The importance of doing due diligence Pancham talks about this deal they didn’t close  [15:36 - 25:41] Doing Due Diligence  A bad roof was a dealbreaker in one of Pancham’s deal Listen to his story If you lose a deal, what should you do?  [25:42 - 30:23] Closing Segment Don’t miss this advice from Pancham for your real estate investing  Final words Tweetable Quotes: “Your income going down is a function of a problem and you have to fix that problem, which wasn’t there before.” - Pancham Gupta “Be a student of whatever you’re trying to achieve and keep learning and take action at the same time.” - Pancham Gupta Resources mentioned:  Robert Kiyosaki Book: Cashflow Quadrant You can connect with Pancham by emailing p@thegoldcollarinvestor.com or pancham.gupta@mesoscapital.com. Get in touch with him on LinkedIn and Facebook and check out Mesos Capital to optimize your real estate investing!  LISTEN to his podcast, The Gold Collar Investor LEARN the top 6 reasons to invest outside of Wall Street! Start here. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


The Orgy Unit - Christy Keeton (Tue, 11 May 2021)
How will you react if your property manager calls you and tells you that a few people have broken into your property and have been found naked? This experience of Christy Keeton shows the value of filtering your would-be tenants. A simple Google search will do, but the better step is to set criteria to attract tenants that will maintain a positive reputation for your properties.   [00:01 - 03:23] Opening Segment  I welcome today’s guest, Christy Keeton She walks us through her path to real estate  [03:24 - 11:29] The Right Real Estate Partner You would not want to miss this story on Christy’s last flip! Her interesting thoughts about family in real estate How to choose the right partner in real estate  [11:30 - 22:25] The Orgy Unit  How this deal changed Christy’s life  What’s Christy’s goal for this year?  Listen to Christy’s multifamily misstep and what we can learn from it  [22:26 - 24:49] Closing Segment Find Christy at the links below Final words Tweetable Quotes: “Just because they’re family does not make them good partners.” - Christy Keeton “Make sure that you are building long-lasting relationships...because this is a relationship industry.” - Christy Keeton Resources mentioned: Kim Wendland Quattro Capital  You can connect with Christy on LinkedIn and Facebook. Check out Keeton Realty Investments to learn more about her work.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


How Do I Meet More People - John Burg (Tue, 04 May 2021)
You don’t and would not want to marry a stranger. The same thing applies to real estate. You don’t and would not want to do a deal with someone you don’t know. This is why you need to show the value you can bring to the table to attract people, especially in the real estate space.  John Burg learned some creative ways to attract potential partners, including how to pre-qualify them for him to know they are the right fit. If you treat building relationships in real estate as a marriage, you can already help yourself in finding the right partner.  [00:01 - 03:54] Opening Segment  I welcome today’s guest, John Burg How John has learned real estate  [03:55 - 08:12] Joint Venture and Passive Investing  What’s the gap in John’s underwriting experience?  John’s next steps in real estate investing you should not miss Facts about Joint Venture (JV) you should know Passive investing and JV don’t work together and here’s why  [08:13 - 18:07] Building Your Investor List Creative tips to build your investor list The do’s and don'ts of meeting people Your criteria in partnering with people Why it’s like a marriage  [18:08 - 23:33] Growing Your Reputation  Planning to jump into the multifamily space? Listen to this advice  Why you should niche down  You need to do at least 1 of these 3 things to grow your reputation  [23:34 - 24:17] Closing Segment Final words Tweetable Quotes: “You don’t have to know everything. Develop your strengths. Partner for your weaknesses. Find somebody else that will work together with you and you can make a strong team.” - John Burg “You have to have something to offer to people in exchange for their email address.” - Jerome Myers Resources Mentioned: BiggerPockets Brandon Turner Rod Khleif Logan Freeman Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Hunting Off Market Data - Jesse Futia (Tue, 27 Apr 2021)
Looking for off-market deals involves finding the right data to analyze. This involves knowing what data to seek in the first place. Real estate investors start off not knowing everything, and that’s okay. They only surrounded themselves with the right team and agreed on a course of action they would take together. This is one of the main principles of this business that has been proven to work every time: partnering with people with the same goals, mission, and aspirations as you.  [00:01 - 04:12] Opening Segment  I welcome today’s guest, Jesse Futia A US Army Ranger and a commercial real estate investor His short-term and long-term goals  [04:13 - 11:05] Building the Right Team The 2 major components of running a syndication Marketing or investor relations  Operations  The traits of the right partner in real estate  Should you outsource your underwriting?  [11:06 - 21:21] Potential in Small Off-Market Deals Joint venture of syndication? We weigh in  Why you should look for smaller deals too The great thing about real estate that you should know [21:22 - 26:45] Closing Segment How to add value to properties  Find Jesse at the links below Final words Tweetable Quotes: “I think there’s potential there too with those smaller deals that we kind of hunt off-market.” - Jesse Futia “If you’re well-capitalized...and you’re ready to take action, I think there’s an opportunity for you to get in the game.” - Jerome Myers  Resources mentioned: The Third Time is the Charm - Bo Goebel You can connect with Jesse on LinkedIn.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


How do you learn to underwrite - Marcellus McKinley (Tue, 20 Apr 2021)
Underwriting deals is one of the most important skills in real estate investing. Learning it by yourself, though, is not advisable. It’s actually inefficient and ineffective. You don’t know what you don’t know, after all. That is why it’s crucial for beginners to build relationships in this space. Aside from being a wealth-generating vehicle, real estate is a team sport that you play with like-minded individuals. Investors like Marcellus McKinley, who is serving in the Air Force, will be better off surrounding themselves with people who know more than they do.  [00:01 - 02:20] Opening Segment  I welcome today’s guest, Marcellus McKinley Active in Air Force Started in the residential space for real estate  [02:21 - 10:29] Underwrite in Real Estate  Marcellus recalls how he became a limited partner  How to underwrite properly in real estate  Developing relationships with brokers  [10:30 - 19:55] Unconscious Incompetence  Bad real estate advice you should hear now ...and not do later  What you should know about the Net Operating Income  What is “unconscious incompetence?” [19:56 - 25:37] Closing Segment Where to start in real estate?  Find Marcellus at the links below Final words Tweetable Quotes: “At the end of the day, though, the game is really building track record like you would in anything else.” - Jerome Myers  “Self-educating is the most inefficient and ineffective way to get into this space because there’s so much that you don’t know that you don’t know.” - Jerome Myers  Resource mentioned: Multifamily Missteps: The Third Time is the Charm - Bo Goebel Connect with Marcellus on LinkedIn.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Where is the Money Going to Come from - Johnny Nelson (Tue, 13 Apr 2021)
We’ve always seen banks as repositories of money. However, banks offer more than just being a storehouse. They can serve as a vehicle to kick start business endeavors, including real estate deals. The main idea that Johnny Nelson has taken away is that he can leverage other people’s money to fund his investments in real estate. Banks are one option, but there are more creative strategies that Johnny and other new investors can try to grow capital in this space.   [00:01 - 03:32] Opening Segment  I welcome today’s guest, Johnny Nelson Why he’s looking to jump into real estate [03:33 - 13:32] Why Investors Should Invest With You  Johnny talks about his first deal  The role of the bank in closing your deal  The secrets to convince equity partners to invest with you  [13:33 - 24:17] Goal Alignment in Real Estate  The not-so enjoyable part of real estate investing  Align yourself with people who has the same goals as you  If you feel that you can’t close a deal alone, here’s what to do [24:18 - 27:56] Closing Segment What you should look for in an investor  Final words Tweetable Quotes: “Experience is the way to the capital...it doesn’t matter how much money you have as long as you’ve got enough money to market for the deal.” - Jerome Myers “The first thing that I wanna see is that they’ve done something to get the right education.” - Jerome Myers Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


How Can I Invest From Out of State - Jerry Sanchez (Tue, 06 Apr 2021)
You always hear that relationships matter in real estate. After all, this is a team sport and it’s hard to invest in this space alone. However, not everyone will be your partner and should be your partner in real estate What you truly need here are people you can trust, not necessarily people you just like. You need people you can rely on to make money with you, and if you can’t find those people, you’re better off doing this yourself. At the end of the day, real estate is all about creating generational wealth that you and your family can be proud of.  [00:01 - 03:52] Opening Segment  I welcome today’s guest, Jerry Sanchez  Join Jerry’s monthly meetup! Details below [03:53 - 14:03] Building Trust in Real Estate How to build trust in real estate  Building the right team shouldn’t be hard Listen to our exchange  Don’t be apologetic and you’ll find the right fit [14:04 - 24:58] Profit, Partnership, Property  Prioritize these 3 P’s in real estate Profit Partnerships Property Is it advisable to make deals alone? Listen to our exchange  [24:59 - 28:19] Closing Segment Should you go passive or active?  Find Jerry at the links below Final words Tweetable Quotes: “Liking somebody doesn’t mean that you should trust them.” - Jerome Myers “Passive investment is great but you would need a lot of money to invest to get the kind of passive investment that’s going to replace your income and your lifestyle.” - Jerry Sanchez Resources mentioned: Multifamily Investor Nation Book: Sizing People Up You can connect with Jerry on LinkedIn or check out EMS Capital LP to learn more about his work.  JOIN the Carolina Multifamily Connection Monthly Meetup! Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Big City Girl Investing in the South - Esther Dorzin (Tue, 30 Mar 2021)
Investing in real estate is possible, wherever you are, whatever you do. One actionable step that you can take right now is knowing your “Why,” which should be strong enough to withstand the “Why not?” Esther Dorzin, MD is a healthcare professional who already has this strong enough “why” that can help her succeed in this industry. She wants to create a generational wealth and legacy for her family. The question now is, “How can she start?” Let’s listen to our exchange and start your own real estate journey!  [00:01 - 03:39] Opening Segment  I welcome today’s guest, Esther Dorzin, MD Why she is interested to jump into real estate [03:40 - 14:19] Investing in Real Estate Real estate is totally about you Listen to our interesting exchange How to go active in real estate  Where’s the real value creation in this industry?  [14:20 - 23:52] Creating a Legacy  Creating generational wealth and legacy How does this work in real estate? Should you go passive in real estate? The “why” vs. “why not?” [23:53 - 27:55] Closing Segment Why multifamily over single-family?  Find Esther at the links below Final words Tweetable Quotes: “When you have a family, it’s not about you anymore...it’s about their future” - Esther Dorzin “Everybody’s pursuing the freedom of choice.” - Jerome Myers  You can connect with Esther on LinkedIn or check out Northside Hospital to learn more about her work.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


The Bank Told Me No - Mo Obotette (Tue, 23 Mar 2021)
You can use other people’s money to invest in real estate. That’s what loans are for. But what would you do if lenders like banks will not let you borrow money? Mo Obotette recalls this experience and does not want to repeat it. Here's what went wrong in this experience and how he can make it right the next time. We will also discuss how this experience is related to one of the key principles in real estate investing: proving value.  [00:01 - 03:07] Opening Segment  I welcome today’s guest, Mo Obotette From computer programming to real estate  [03:08 - 12:29] Showing Your Value Listen to our exchange about commercial loans  Mo talks about his experience on single-family investing How to show your value in real estate  [12:30 - 22:35] Joint Venture vs. Syndication  How to build your confidence in making a deal The real risk you should know in real estate Joint venture vs. syndication Listen to our exchange  [22:36 - 25:00] Closing Segment What Multifamily Missteps really is for  Find Mo at the links below Final words Tweetable Quotes: “Instead of me doing 30 calls and talking about the exact same thing, we can just put this episode together, share it with the world.” - Jerome Myers “If you don’t know about those [real estate] challenges, then you can’t put a financial plan together.” - Jerome Myers You can connect with Mo by emailing chillbo@hotmail.com or call/text him at 262.458.4008.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


What is a Multifamily Misstep - James Bryant and Jerome Myers (Thu, 18 Mar 2021)
James Bryant joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to launch this new concept. We learn that these projects don't always go as planned, the four steps of the Myers Methods of multifamily investing, and why they believe there is a need for this type of programming. James believes that how you respond to missteps is more important than having them and we are using this as an venue to learn how people are transforming obstacles into opportunity. In this weeks show we learn about: - not raising enough money - what happens when you don't turn on the utilities during the physical inspection - why you must go in every unit - what we should expect in future episodes - why people should go tuna fishing instead of trying to take Moby Dick down the first go around If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to James Support the show (https://www.facebook.com/groups/157335752156211/)


Getting Started - Jim Parker (Wed, 17 Mar 2021)
Jumping to real estate while having a mid-senior management job is a scary thought, but not for Jim Parker. Still in his early 40’s, Jim is ready and more than willing to take the leap into space because he wants to have a passive income stream by the time he’s in his late 50’s. He wants to take full control of his own time, where he will work only if he wants to, all the while collecting mailbox money.  In investing in real estate, there are 4 things that investors are working on. The first should be Knowledge. We believe that investors should know first how a deal looks like before they can proceed in joining a deal. We also believe that there is an efficient and effective way to jump into real estate, which will let the investors know if this space is really for them.  [00:01 - 03:53] Opening Segment  I welcome today’s guest, Jim Parker The part of real estate is Jim the least interested [03:54 - 08:10] The 4-Step Process to Start in Real Estate What’s the Dave Ramsey way?  The 4-step process that Jim can follow Find Fund Fix Listen to our exchange for the last step!  [08:11 - 14:44] The Truth Behind Multifamily Investing The ideal number of units to acquire first  What every investor should know about multifamily investing The key part in the 4-step process we discussed [14:45 - 23:18] 4 Things Real Estate Investors Work On Listen to our exchange about buying properties  What you should know about the business model of McDonald’s The 4 things that investors work on  Why knowledge should be the starting point The most efficient and effective way to jump to real estate [23:19 - 25:15] Closing Segment Final words Tweetable Quotes: “It’s not uncommon to look at 75, 100 deals in a year and you might do two of them.” - Jim Parker “You need to know what a deal looks like so that’s why we start with knowledge.” - Jerome Myers Resources Mentioned: Dave Ramsey D.R. Horton KB Real Estate BiggerPockets Craigslist LoopNet Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Life and Safety Inspections Matter - Danny Randazzo (Wed, 17 Mar 2021)
Today, I had the pleasure of talking with Danny Randazzo, a full-time multifamily investor at PassiveInvesting.com. His company controls more than 2,000 apartments valued at 225 million assets under management. In 2019, they were able to purchase over 120 million dollars in multifamily real estate. Let's dive into Danny’s story and get expert advice from a real estate pro! [00:01 – 06:26] Opening Segment Danny Randazzo talks about his background and his multifamily journey  Danny shares the skills he can offer in multifamily investing  [06:27 – 11:59] The Three Amigos  Danny talks about how he met his business partners They slowly found alignment in their business pursuits     “Let’s look at this thing together” He shares some tips in building partnerships you don’t want to miss!  [12:00 – 19:58] Life and Safety Inspections Matter Danny shares that there’s not a lot of difference between a 50-million-dollar deal, a 5-million-dollar deal, and a 500,000-dollar deal. Find out why!  Here’s a quick shout out to our website, Myers Methods  Danny tells us why we need to check if our properties have fire extinguishers and sprinkler systems   [19:59 – 23:48] Closing Segment Danny shares some words of wisdom you’d want to check out! Danny talks about what we can do if we don’t have access to people who can help us in our business   Tweetable Quotes: “Be grateful for what you have and continue to work hard.” – Danny Randazzo “Multifamily is definitely a team sport.” - – Danny Randazzo Resources mentioned: Myers Methods You can connect with Danny on Facebook, Instagram, LinkedIn, Twitter, and his website, https://dannyrandazzo.com/. Listen to his podcast, The Danny Randazzo Show. Visit his company’s website at https://www.passiveinvesting.com/ and their social media channels: Facebook, YouTube, and LinkedIn. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Stalled at 50% Occupancy - Kyle Jones (Tue, 16 Mar 2021)
Doing your due diligence is one of the best ways to succeed in real estate investing. We need to remind ourselves that it takes hard work to win in this industry. Our guest for today definitely learned that the hard way. Kyle Jones, Co-Founder and Key Principal of TruePoint Capital, LLC shares this story of how they lost 50% occupancy in a property, which caught them by surprise. It led him to take several key steps to avoid this misstep. What are these steps and can you apply them to your investing strategies? Let's dive into Kyle’s story and get expert advice on real estate investing.  [00:01 – 08:30] Opening Segment Kyle Jones talks about his background and how his journey in real estate began He shares some secret sauce you’d not want to miss! [08:31 – 16:33] Stalled at 50% Occupancy Kyle talks about how they lost 50% of occupancy in one of their properties Lack of necessary information Misalignment of goals with the property manager  He shares how you can keep the confidence of your investors despite difficulties in the business Learn our four-step process to enter the multifamily business on Myers Methods [16:34 – 23:35] Due Diligence   Kyle shares some criteria in looking for a property manager He talks about the steps he’d take to avoid the multifamily misstep they experienced  [23:36 – 29:41] Closing Segment Kyle shares some words of wisdom you might want to hear! Stick to your standards Do your homework Final words from Kyle It’s not always sunshine and rainbows in our business   Tweetable Quotes: “Keep your head on straight...make sure that your sights are focused on the fact that [your business] is a long-term play.” – Kyle Jones “You can’t control people...just make sure you understand what you’re getting into.” – Kyle Jones Email Kyle on kjones@truepointcap.com or call him at+1-832-247-2570. You can also follow him on LinkedIn and listen to his podcast. Visit their company’s website online and check them out on LinkedIn. You can also call them directly at 832-247-2570 LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


A year to close 107 Unit Complex - A Donahue Baker (Mon, 15 Mar 2021)
A Donahue Baker is a CPA turned full-time real estate investor. He is a real estate developer, author, speaker, and entrepreneur. Donahue now focuses on acquiring value-add apartment complexes and providing people with affordable housing. In this episode, he shares the most challenging deal he ever faced, a 107-unit complex that took a year to close. [00:01 – 13:29] Providing Affordable Housing Donahue talks about his background and journey to affordable housing A CPA in his previous life Focuses on purchasing value-add apartment complexes Grabbing his most challenging deal. Donahue walks us through the process of acquiring their 107-unit complex. [13:30 – 24:29] Hurdles and Setbacks The major deficiencies in the management of the previous owners of the 107-unit complex Other people seeing opportunities in Donahue’s deal The hurdles and setbacks The deal failed 3 times in a year [24:30 – 27:38] Closing Segment Final words of wisdom for the listeners: “Opportunity is all in every difficulty.” “It’s important to analyze your deals from various perspectives.” Final thoughts   Tweetable Quotes: “If you know what to look for, for me, it’s like really looking for the opportunity to do a tremendous value-add.” – A Donahue Baker “I learned along the way. So, now I have a different mindset.” – A Donahue Baker   Resources Mentioned: Generational Wealth: That’s The Key by A Donahue Baker   You can connect with Donahue on the following platforms: Instagram: @adonahuebaker Facebook: @adonahuebakerpage Twitter: @ADonahueBaker Get his book Generational Wealth: That’s The Key for free by subscribing to his YouTube Channel at A Donahue Baker or by joining the Generational Wealth Builders (The Inner Circle) Facebook group. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Its Easier to get into a Bad Deal than Out - Brian Hamrick (Sun, 14 Mar 2021)
Today, I had the pleasure of talking with Brian Hamrick, owner of Hamrick Investment Group. The Group has over 40 investors, more than 32 million dollars in acquisitions, focusing on cash-flowing real estate and real estate developments primarily in multi-family apartments, as well as self-storage, performing and non-performing notes, office, and retail.   Let's jump into Brian’s story and get expert advice from a real estate pro! [00:01 – 05:06] Opening Segment Brian Hamrick talks about his background and his real estate journey  He shares where his specialty is in terms of real estate business  [05:07 – 17:38] Go Big or Go Home  Brian talks about his opportunistic investment behavior in real estate  Can you “go big or go home” in single-family units?  Brian talks about the secrets on property management you don’t want to miss! Brian shares how he learned about real estate investing  Here’s a quick shout out to our website, Myers Methods.  [17:39 – 28:15] Cheap Price Doesn’t Make it a Deal Brian talks about his version of multifamily missteps  He already spent what he would have earned for some of his units Take a careful look at the utility bills of your property Brian shares what saved him from his missteps  [28:16 – 32:07] Lessons learned Brian shares a couple of lessons he learned from his missteps Go strong when you buy a property Get rid of your property as quickly as possible if you realize it can’t make a great return eventually Brian talks about a rule of thumb in increasing income and decreasing expenses  [32:08 – 36:24] Closing Segment Brian shares some words of wisdom for aspiring and seasoned investors Pay close attention to the details He talks about a “concrete actionable advice” that is not commonly shared by our guests.    Tweetable Quotes: “In this business, you have to really look into your heart and figure out what you want to be.” – Brian Hamrick “Every step you take leads to more steps.” – Brian Hamrick Resources mentioned: Myers Methods Rental Property Owner & Real Estate Investor Podcast Rich Dad Poor Dad David Lindahl Sue Nelson  You can connect with Brian on LinkedIn and Facebook or email him at brian@higinvestor.com. Visit their website https://www.higinvestor.com/ and check out their LinkedIn profile. Watch out as Hamrick Investor Group rebrands to be a next-level investment club!  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Paying too Much In Taxes - Yonah Weiss (Sat, 13 Mar 2021)
Today’s guest is a man who hardly needs an introduction if you’ve spent time in the multifamily space. I have with me, Yonah Weiss, business director for Madison Specs, and the host of the Weiss Advice Podcast. Yonah is an expert in saving millions in taxes for property owners using his method of Cost Segregation. Tune in a learn how Yonah helped a client save millions in taxes after first watching him pay too much.  Things you will learn in this episode: [00:01 – 3:42] Opening Segment Yonah talks about his background Education and teach then moved into real estate Began with Madison working with cost-segregation  [03:43 – 09:39] Yonah’s Missteps Story Yonah breaks down cost segregation and how it affects people differently Yonah’s story of working with a top real estate broker who paid too much in taxes Ignorant to the tools that can save you millions in taxes  Did not amend previous tax returns  [09:40 - 14:49] Yonah’s Methods The downsides to a cost seg study and ways around them The power and importance of using cost seg study correctly  Do your due diligence when hiring a company to do your study [14:50 – 20:29] Closing Segment The questions you need to ask when looking to hire a cost seg company  What happens when you have audit protection  Yonah’s words of wisdom - always ask questions Final words  Resources Mentioned: Weiss Advice Podcast Madison Specs   Tweetable Quotes: “All taxpayers are not equal. If you’re a real estate professional, you actually have the highest benefit of any certain type of taxpayer that’s out there. ” – Yonah Weiss “Foundation is everything, if you don’t have a good foundation then the whole building will fall down.” - Yonah Weiss Connect with Yonah on LinkedIn. Visit https://www.yonahweiss.com/ to learn more. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Idea of Lose and Losing - Joseph Bramante (Fri, 12 Mar 2021)
I had the pleasure of speaking with Joseph Bramante. He is the co-founder and CEO of TriArc Real Estate Partners, a wholly integrated multifamily investment company. He purchased his first multifamily property in the US in 2011, sight unseen, while working as a business team lead for ExxonMobil in Papua, New Guinea. Today, along with his business partners, he has grown a portfolio of over 1100 units, increasing NOI (net operating income) by over 80% on average within 48 months post-acquisition.  Let’s jump into Joseph’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 04:29] Opening Segment How to get in contact with Joseph  See links below Joseph talks about his career background Joseph shares the beginning of his journey in real estate The ‘take action’ mindset [04:30 - 22:59] Idea of Lose and Losing  Joseph talks about his first deal with 26 units It took 6-9 months to find the deal Didn't have any experience with multifamily before  He partnered up with a friend that did not have any experience as well Leading himself and his friend based on the information he got from books Do the same due diligence as buying a house Joseph talks about some missteps that he took Did not have the detailed plan upfront before he closes the loan Had some scope growth If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Joseph talks about the AC process of getting a permit Missed the submission of environmental  [23:00 - 38:19]  Fixing it with the Right People  Joseph talks about the local rose group that he joined He got a mentor and got some help He cashed up his 401K Doubled his original investment Still on the mindset of saving his money and making real estate as a side job Almost lost everything with loan  [38:20 - 42:44] Closing Segment What are your words of wisdom to our listeners? “You never gonna know or be ready until you do it.” Joseph talks about the Cap rate compression he got on his first deal Compounding affect  Part of his success was getting the right team around him Final words from me Tweetable Quotes:  “Make sure you at least 80-90% of your detail plan before closing the loan  .” - Joseph Bramante. “Make sure to distribute some of your savings to make an artificial paycheck to yourself .” -  Joseph Bramante “It is not a one-man show; you have to bring in people to partner with you.” -  Joseph Bramante You can connect with Joseph on LinkedIn, and you can also visit the website at www.triarcrep.com or email him to info@triarcrep.com LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


Confessions of a Seasoned Broker - Reid Bennett (Thu, 11 Mar 2021)
Reid Bennet, CCIM serves as National Council Chair of Multifamily Properties for SVN International and a Senior Vice President for SVN - Chicago Commercial. As a licensed managing broker, he focuses primarily on the sale of apartment communities across the midwest and also teams up with members of his council to serve clients across the country in over 150 markets. Reid prides himself on understanding the nuances and analysis of multiple unit apartment dwellings & low-income Section 8 & Section 42 communities. Things you will learn in this episode: [00:01 – 04:39] Opening Segment How to get in contact with Reid See the links below Reid talks about his background in real estate Multifamily deals during the Great Recession [04:40 – 32:30] Confessions of A Seasoned Broker Lessons learned from his first active investment deal How Reid handles concerns in his deals Having enough deals to go around Reid’s current deals and transactions Reid talks about choosing the right deals with the right people Being more credible in Syndication deals Reid talks about off-market deals Reid talks about how people destroy the value of their deals [32:31 – 41:11] Closing Segment Reid’s words of wisdom for the listeners: Look at enough deals to understand the market Have 4 or 5 sanity checks when you look at a deal Final thoughts  Tweetable Quotes: “Look at 50 or 100 deals from the one that you buy. Look at enough deals to understand the market.” - Reid Bennet “The best advice is to have a sanity check. Have 4 or 5 sanity checks when you look at a deal.” - Reid Bennet Resources Mentioned: SVN Connect with Reid on LinkedIn. Send him an email at reid.bennet@svn.com  Call 773 251 7342   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Where's My Property Manager? - Dustin Miles (Wed, 10 Mar 2021)
What does it take to become a successful property manager? How do we find and hire the right one? And by “right,” I mean how do we find the manager that will be best suited to take care of our needs? Dustin Miles, President of Cowtown Cap, Founder of School of Income, and the Managing Partner of Momentum Multifamily, was caught by surprise when his main connection retired. He was also unable to meet his desired growth rate. What steps did Dustin take to overcome these challenges? Let’s jump into Dustin’s story and get expert advice on how we can hire the perfect property managers. [00:01 - 07:00] Opening Segment How to get in contact with Dustin See links below Dustin talks about his career background and journey in real estate Dustin talks about personal life He loves hiking and running and living a very active lifestyle   If there is anything you want to do in life, either you hire a coach or partner up with someone who has already done it  Figure out your map and get the right people to help you to reach it [07:01 - 14:44] Where's The Manager? Dustin talks about a tough time he faced on a deal Involving a management company that specializes in the secondary market By the time the deal closed, his main connection decided to retire He has to make a pivot  Making the switch  [14:45 - 17:24] The Switch of the Process Dustin talks about the change he made in the process of hiring a property manager If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Dustin talks about another deal he has in Oklahoma city Hiring a management company in Dallas that he knew very well They don’t have any vendors and resources in Oklahoma city [17:25 - 20:20] Closing Segment What are your words of wisdom for our listeners? “It would help a lot if your management company has a presence there, has been there for a while, and knows the market in the area .” Dustin talks about markets that are difficult to break into Huston compared to other texas cities Make sure to get a management company that has resources and sub-contractors that knows the market in the area Different sub-markets could change very quickly Final words from me Tweetable Quotes:  “It would help a lot if your management company has a presence there, or has been there for a while, and knows the market in the area.” - Dustin Miles “ If there is anything you want to do in life, either you hire a coach or partner up with someone who has already done it.” - Dustin Miles “Figure out your map and get the right people to help you to reach it.” - Dustin Miles You can connect with Dustin on LinkedIn, Facebook, and you can also visit the website  or email him at dustin@momentummultifamily.com LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


The Property Manager Died on Us - Rashmi Nigam (Tue, 09 Mar 2021)
We always hear that death and taxes are the only things that are certain in this world. Rashmi Nigam would like to add another: trial and error. She learned this the hard way when they were looking for the right property manager to replace the previous manager who suddenly died days before they closed the deal. What she also learned in this experience is the need to separate business matters from personal relationships. You can’t allow the property manager to get close with the tenants. Let’s get into the episode to learn why. [00:01 - 04:29] Opening Segment  I welcome today’s guest, Rashmi Nigam Find Rashmi at the links below Let’s get to know Rashmi [04:30 - 09:32] Mistakes Are Okay If Not Repeated Rashmi walks us through her start in multifamily  Here’s Rashmi’s general philosophy in life you should hear Make mistakes Minimize risks Don’t repeat the same mistakes Repeat the first 3 steps  [09:33 - 16:20] The Property Manager Died on Us Rashmi’s response when their property manager suddenly died Listen to Rashmi’s approach in finding a new property manager How much should you let the property manager do their thing? Rashmi weigns in There should a boundary between the property manager and tenants Rashmi explains  [16:21 - 21:55] Numbers are Meaningless With No Proper Understanding Who should be assigned to manage the property on-site? Not the property manager  Don’t just pay attention to the net operating income Listen to Rashmi’s words of wisdom for today Follow your gut Know what works for you Success comes in many ways  [21:56 - 24:11] Closing Segment Parting words from Rashmi Pursue your dreams  Final words from me Tweetable Quotes: “It’s okay to make mistakes. Learn to minimize your risks so you don’t lose it all, but don’t repeat it again because then you’re the fool.” -  Rashmi Nigam “Just pursue your dreams. Go at it. Be brave” -  Rashmi Nigam Email rashmi.nigam@gmail.com or visit LinkedIn to connect with Rashmi. Check out their company online to learn more about their work.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Finding Partners to JV With - Richard Fowler (Tue, 09 Mar 2021)
Joint ventures (JVs) in real estate is one way to participate in large real estate transactions. It has many benefits, including shared resources, additional capital, shared risks and expenses, and added credibility. JVs are commonly done by investors who think they cannot take on a deal by themselves. That’s when they find partners who can help them achieve their goals.  In participating in a JV, finding the right partner is key, but it is not enough. You also have to be the right partner for the investors you’ve found. Richard Fowler has learned how to do JVs the right way by knowing when to pursue them and when to try other options to raise capital such as syndications. He also learned about the importance of educating yourself in the real estate space.  [00:01 - 03:03] Opening Segment  I welcome today’s guest, Richard Fowler Why he’s interested in joint ventures  [03:04 - 08:07] Large Multifamily Deals  The opportunities that you should grab in real estate  Richard prefers active investing because of this reason [08:08 - 13:44] Joint Venture or Syndication?  What you need to know about joint ventures in real estate  Should you syndicate or do joint ventures?  Listen to our exchange The importance of self-education in real estate  [13:45 - 18:00] Added Credibility   How to get directly to the sellers? How to build credibility through a JV   [18:01 - 23:28] Closing Segment Connect with Richard! Links below Final words Tweetable Quotes: “If you don’t have an experienced person on your team, it’s gonna be really difficult to raise capital.” - Jerome Myers  “If you don’t have a deal, it’s gonna be hard to find somebody with experience who’s interested in  partnering with you.” - Jerome Myers Resources Mentioned: Michael Blank Connect with Richard by emailing topteam4solutions@gmail.com. You can also reach out to him on LinkedIn.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Down to 20% Occupancy - Amy Tiemann (Mon, 08 Mar 2021)
I had the pleasure of speaking with Amy Tiemann today. Amy is a multi-family investor and consultant and President of TM1 Properties. She was recently featured in Forbes, with a piece on due diligence in multifamily investing. Her passion is to help accredited investors earn passive income through multi-family real estate projects. In this episode, we will discuss her whirlwind journey into real estate investing and property management, plus some of her missteps and lessons along her journey. Let’s jump into Amy’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 07:19] Opening Segment How to get in contact with Amy See links below Amy talks about her career background and journey in real estate [07:20 - 13:26] The invisible Boundary Amy shares the story about the lesson she got from one of her 40 unit deal that went wrong. Expect the unforeseen, and don’t blame it all on yourself.  You have to check with your advisors routinely. In real estate, things go wrong sometimes, and it is okay to admit that you have screwed up so you can learn. The invisible boundary is a real thing. [13:27 - 26:19]  Down to 20% Occupancy Amy shares the story of one of her biggest deal that went bad after a hurricane  If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Got down to 20% of occupancy  Don’t let emotion run you when it comes to real estate  It took a long time to stabilized  Amy talks about buying in our backyard It’s all about the mindset and emotion that drives you [26:40 - 29:39] Closing Segment What are your words of wisdom to our listeners? “ Pick your partners carefully, the one with the skillsets that you need because you can not do everything. So be self-aware enough to know who is going to help you.” Unwanted things might happen, so you want to make sure your partner will support you, not hurt you. Final words from me Tweetable Quotes:  “You can’t do everything on your own and don’t be afraid to ask for help from others.” - Amy Tiemann. “In real estate, things could go wrong sometimes, and it is okay to admit that you have screwed up so you can learn .” - Amy Tiemann. “Routinely checking with your advisors, even when things are going well .” - Amy Tiemann. “Pick your partners carefully, the one with the skillsets that you need because you can not do everything. So be self-aware enough to know who is going to help you.”- Amy Tiemann. You can connect with Amy on LinkedIn, and you can also visit the website at tm1properties.com/ or call her at 5126880594.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


They Cut My Loan Proceeds - Brian Briscoe (Sun, 07 Mar 2021)
Today I had the pleasure of speaking with the CO-Founder and Marketing Manager of Four Oaks Capital, Brain Briscoe. Let’s dive into Brian’s misstep story and how to come back from a cut in loan proceeds when you’ve overextended yourself. [00:01 - 05:25] Opening Segment Brian Briscoe gives us his background story from Marine Corp to Multifamily Real Estate Contact Brian through Four Oaks Capital or contact directly at brianbriscoe@fouroakscapital.com Michael Blanck Coaching Program [05:26 - 11:13] How to Launch  Brian talks about the value of mentorship  Brian shares how he launched himself into his first deal Don’t buy into the people teaching that you can start with zero down [11:14 - 31:30] They Cut My Loan Proceeds Brian talks about overestimating the proceeds in the loan of his Franny May deal in the Scarborough area Brian walks us through how he was able to negotiate back up and fix the situation Changing the GP/LP split Brian gives us valuable advice about how to avoid this kind of situation  Underwriting without assumptions [31:31 - 34:57 ] Closing Segment What are your words of wisdom to our listeners? “Sharpen your pencil on everything” and “verify all assumptions” How long did it take you to close this deal? “The seller measured everything in business days to about 6 months.” Final words from me   Tweetable Quotes: “Sharpen your pencil on everything...When you’re going through your underwriting or projections make sure there are no assumptions in there.” - Brian Briscoe      You can connect with Brian on LinkedIn, and Facebook, and definitely check out the Four Oaks Capital website.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Paying a Pref Without Closing - Kristen Ray (Sat, 06 Mar 2021)
I had the pleasure of speaking with the owner of Vytal Investments, LLC, and co-founder of Vital Investment Partners, Kristen Ray. Let’s dive into Kristen’s story that by not giving up, no matter how many times you fail, it can eventually lead you to the success that you have been dreaming of. Things you will learn in this episode: [00:01 – 03:07] Opening Segment Kristen talks about her background and where her journey began Inherited properties from her grandfather and turned them into rentals [03:08 – 14:19] Kristen’s Missteps Kristen talks about previous deals she had made How she met her business partner Kristen talks about the first deal with her new partner Quick shoutout to our website myersmethod.com Kristen shares her learnings from the failed first deal Building and maintaining good business relationships [14:20 – 20:54] Don’t Give Up Kristen talks about moving on and the next deal that they made The surprises after closing the deal Kristen gives powerful words of wisdom that you don’t want to miss!  Tweetable Quotes “Don’t give up; just keep doing it. No matter how many times you fail for something you want to do, keep at it, and try to mitigate your risk.” – Kristen Ray   You can connect with Kristen on Facebook and Linkedin. You can also send her an email at info@vitalinvestmentpartners.com. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Buying Cross Country - Mike Tighe (Fri, 05 Mar 2021)
Mike Tighe joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps with purchasing his first property cross country in a joint venture. We learn the risk associated with bridge debt.  Mike shares how your partners can influence you to stretch yourself and how to build repertoire with brokers over the phone.  He also takes us through a break down on his first off market deal, being under capitalized and the financing struggles with closing the property Mike believes that you have to be willing to delay gratification in order to live an amazing life. In this weeks show we learn about: - bridge debt - helping increase the number of showings at your property - importance of having an experience partner - house hacking - BRRRs - paying contractors a fair wage - collecting delinquencies - value of mentorship If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to Mike Support the show (https://www.facebook.com/groups/157335752156211/)


Property Management Problems - Ben Wuollet (Thu, 04 Mar 2021)
Ben Wuollet joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps with managing property managers when going into "rougher" properties. We learn about the risk associated with Land Use Restricted Projects and high vacancy.  Ben shares how the property manager stopped leasing new units while they were 50% vacant.  He also shares how they were able to get big discounts by closing in 30 days or less with no financing contingency.  Ben believes that its better to have debt than equity. In this weeks show we learn about: - "pump and dump" - difference between 506b and 506c - what happens when your property has low activity - how to get off market deals - importance of underwriting to Year 1 rents - how to buy 5 deals in 7 months - what deals are "bankable" - why he doesn't like cross-collateralization - importance of exiting quickly when you have hard money loans - why you would raise equity to pay down debt If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to Ben Support the show (https://www.facebook.com/groups/157335752156211/)


Being a Key Principal - Sandhya Seshadri (Wed, 03 Mar 2021)
Sandhya Seshadri is the founder and CEO of Texas Twilight Investments and Multi-Family 4 YOU. She’s a multifamily deal sponsor, syndicator, and accredited investor based in Dallas, Texas.  Let’s jump into Sandhya’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 04:10] Opening Segment Sandhya talks about her background and when her journey began Moved to Texas 30 years ago from India Graduated with an engineering degree and MBA Got into the corporate world and stock exchange  Joined a Multifamily Syndication  [05:00 - 15:00] Practical Training  Sandhya shares the lessons she learned especially as a passive investor Sandhya talks about the importance of putting her money in the deal Sandhya shares her transitional experience  Choosing the right partner to invest with [15:01 - 21:05] Being a Key Principal  Sandhya talks about her experience dealing with banks  Sandhya shares about her experience being a Key Principal  Sandhya gives us valuable advice about how to be a Key Principal [21:06 - 24:13] Closing Segment How do you find and approach the people that have the capacity to join your deal? Follow the same rules that you would use to get passive investors Offer your current investors to become Key Principals Guidance to ask about networth information input on lenders’ requirements What are your words of wisdom to our listeners? “No matter what the obstacles might seem, there is always a way.” Final words from me Tweetable Quotes:  “No matter what the obstacles might seem, there is always a way. The straight path that someone else had followed might not be going to fit you, you have to create your own path.” - Sandhya Seshadri You can connect with Sandhya on LinkedIn, and Facebook. Check her website at multifamily4you.com or email her at multifamily4you@gmail.com LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Where Are the Numbers Coming From - John Azar (Tue, 02 Mar 2021)
Checking the numbers and doing due diligence will save you in the long run, most of the time. John Azar delves into his journey into multifamily. He talks about his setback during 2008 and his incremental growth to owning over 6000-8000 units. John talks about the doomsday scenario, stress testing, and planning for foreseeable roadblocks. John Azar is the  Executive Vice President of MACC Venture Partners. KEYPOINTS No shortcut to growth, growth happens in increments  Talking with peers in the industry Working with investors when starting out in a multifamily investing SEGMENT TIMESTAMPS 01:50 – Off the script: going from deal 1 to 6000 - Getting into multifamily 04:20 – Building from the ground up 07:25 – The missteps along the way 10:00 – Which scenario is the best scenario? 17:25 – Under promising and overdelivering If we always look at the best-case scenarios, we will never account for worse case scenarios. - John Azar LINKS John Azar Website: https://maccvp.com/senior-management-team/ LinkedIn: https://www.linkedin.com/in/jalalazar Support the show (https://www.facebook.com/groups/157335752156211/)


Respect is a Non Negotiable - John Casmon (Mon, 01 Mar 2021)
John Casmon joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps associated with partnerships. We learn why he decided to leaving fixing and flipping behind and how we went from a duplex to controlling over 90,000,000 in multifamily real estate.  John shares how he had a deal go bad because of a lack of respect in the partnership.  We hear what motivated him to be an advertising executive and why he left that career behind. John believes that respect is a non-negotiable. In this week's show we learn about: - the importance of harnessing your transferable skills - how to expand your investor database past your friends and family - why you have to have cushion in your estimates - when you should trust your gut - the similarities between a partnership and a marriage - what happens when only the lender makes money - how emotional drain can have more impact than financial - the importance of being able to adjust when your plan derails - why you shouldn't let your budget dictate who you work with If you are interested in getting more multifamily investing education go to www.myersmethods.com Support the show (https://www.facebook.com/groups/157335752156211/)


My Reputation is Worth More than Money - Brian Burke (Sun, 28 Feb 2021)
Today I had the pleasure of speaking with the President / CEO of Praxis Capital Inc, Brian Burke.  Let’s jump into Brian’s story of how reputation is worth more than money and what real estate investing is all about  Things you will learn in this episode: [00:01 - 04:03] Opening Segment Brian talks about his background and his real estate journey  Connect with Brian, see below for the links.  How he started in multifamily  [04:04 - 15:54] How Brian Handles Economic Challenge During The Recession Brian discusses how he strategizes to gain access to capital in the midst of the recession Brian recalls where the real estate began collapsing in the year 2005  Lehman Brothers, Bear Stearns, and stocks markets collapsed  People started losing jobs resulted from them to stopped paying rent, got evicted, or moved out  Brian shares how he handles the issues during the economic challenge when the real estate business came crashing down [15:55 - 21:30] My Reputation is Worth More Than Money  Brian shares lessons you need to avoid when it comes to real estate investments Brian  gives powerful words of wisdom in times of global pandemic “Take the lesson that I’ve learned from the last economic challenge and apply them to this one” “Use conservative leverage, use conservative assumptions when you're underwriting” “Never worry about being too pessimistic”  Tweetable Quotes:  “Don't use so much leverage” -Brian Burke  “Without reputation, you have nothing” -Brian Burke  You can connect with Brian on LinkedIn, visit his company website https://praxcap.com/ or you can also reach him on  https://www.biggerpockets.com/forums  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


TIC Nightmares - Richard Fowler (Tue, 23 Feb 2021)
Investing in real estate requires your attention, regardless if you’re active or passive. It also helps to be knowledgeable and involved, especially if your name and reputation are at stake in the deals that you’re going with. Richard Fowler realized this when he went through some nightmares about the properties he’s handling. What he realized in this experience is that one must consider all options available before going all out in real estate. In his case, he shares what could’ve been a better tax planning strategy in his deals.  [00:01 - 01:56] Opening Segment  I welcome today’s guest, Richard Fowler Connect with Richard! Links below [01:57 - 05:43] Single Family Investing Richard walks us through his path to real estate  What you should watch out for in single family investing [05:44 - 14:50] Tenancy in Common Nightmares  Understand deferred taxes with these tips from Richard  Cost segregation or 1031 exchange?  Richard weighs in What Richard changed in his real estate approach [14:51 - 16:27] Closing Segment Don’t miss Richard’s words of wisdom for today!  Final words Tweetable Quotes: “Learning leads to action. Action leads to success” - Richard Fowler “Knowledge makes you wealthy.” - Richard Fowler You can connect with Richard by emailing topteam4solutions@gmail.com or get in touch with him on LinkedIn.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


$6,000 pay out on a 40k claim - Jeremy Goodrich (Tue, 16 Feb 2021)
You buy insurance policies with the hope that you won’t ever have to use them. In case you have to use a policy, you hope that every loss and damage will be covered. It’s true that insurance is a good safety net that can protect your hard-earned money in real estate--only if you fully understand what you signed up for.  Insurance agents like Jeremy Goodrich know a good policy when they find one. Most of the time though they find terrible policies, those that will not really protect the investors’ properties, or worse, force them to pay an insane amount they don’t expect. Jeremy found out that many real estate investors--80% to be specific--own those terrible policies. He’s using his knowledge and platform to educate real estate investors about insurance policies that cover everything they need. [00:01 - 02:23] Opening Segment  I welcome today’s guest, Jeremy Goodrich  [02:24 - 08:30] $34K Out-of-Pocket Cost The 2 things real estate operators should look for in an insurance  Listen to this multifamily misstep that Jeremy encountered  $6K payout on a $40K claim Why you should not get an Actual Cost Value coverage  [08:31 - 14:16] The Right Insurance Agent  Learn Jeremy’s no. 1 piece of advice for investors What to look for in an insurance agent  Listen to Jeremy’s approach in insurance   [14:17 - 20:48] Expensive Insurance Coverage  Have you been offered something you shouldn’t be paying for?  Listen to Jeremy Jeremy breaks down loss runs  Hear from Jeremy about “uninsurable” properties Are there such properties?  [20:49 - 22:01] Closing Segment Find Jeremy at the links below Final words Tweetable Quotes: “The bottom line is: ‘Where’s the best price for the coverage that I actually want, that I actually need, that I actually feel will take care of me?’” - Jeremy Goodrich “You just can’t think about insurance as insuring what you paid for in a property.” - Jeremy Goodrich You can connect with Jeremy by emailing jeremy@shineinsurance.com or get in touch with him on LinkedIn. Check out Shine Insurance to learn more about their work.  Do you belong to the 80% of commercial real estate investors with insurance that will fail to protect your properties? Find out here.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


The Third Time is the Charm - Bo Goebel (Tue, 09 Feb 2021)
Failures always have silver linings if you only know where to look at. Those silver linings are often directions that lead to the path to success. However, among those who have found a silver lining, only a handful of people take action. A fraction of those people try and try then, after seeing failures again, completely give up. People like Bo Goebel belong to the few determined ones who have managed to see the light at the end of the tunnel even after several setbacks. May this episode remind you then that the path to success is not a straight line. In most cases, it’s full of ups and downs.  [00:01 - 04:29] Opening Segment  I welcome today’s guest, Bo Goebel Find Bo at the links below His path from the Army to real estate  [04:30 - 10:26] Preparation is the Key  Why commercial multifamily is the best wealth-building vehicle now The biggest reason a deal can fail  The “old-school” mentalities you should drop already [10:27 - 21:28] Third Time's the Charm This deal was an “educational piece” for Bo Hear his story  Syndication is not only applicable to commercial multifamily Bo explains The most fulfilling aspect of closing a deal [21:29 - 26:43] A Positive State of Mind Bo walks us through their onboarding process Bo’s solutions avoid another multifamily misstep  Don’t miss his words of wisdom for us [26:44 - 27:41] Closing Segment Final words Tweetable Quotes: “The most important aspect to any success in life is a positive state of mind.” - Bo Goebel “That love and appreciation for everybody is gonna be the marker of success.” - Bo Goebel Resources Mentioned Book: Think and Grow Rich You can connect with Bo by emailing him at bogoebel@riversideinvestmentgroup.com. You can also get in touch with him on LinkedIn. Check out Riverside Investment Group to learn more about their work.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Things to Watch Out for in PPMs - Jeff Love (Tue, 22 Dec 2020)
Jeff Love is a partner at Gibbs Giden Attorneys at law. His practices encompass all facets of real estate transactions, including drafting and negotiating purchase, sale, syndication, and financing transactions in connection with commercial, industrial, and residential assets. He also regularly drafts and negotiates office, retail, and industrial leases for regional landlords and tenants throughout the West Coast. Things you will learn in this episode: [00:01 – 04:23] Opening Segment How to get in contact with Jeff See the links below Jeff talks about his background in real estate Jeff talks about Los Angeles deals and missteps [04:24 – 18:08] You Have to Disclose Understanding disclosures Disclose everything to investors PPM’s in investment deals Jeff’s recommendations to avoid missteps in disclosures Don’t guarantee things Disclose and share information [18:09 – 21:51] Closing Segment Jeff’s words of wisdom for the listeners: Not everything goes according to plan Don’t get discouraged when things go wrong Learn from your missteps Final thoughts   Tweetable Quotes: “Don’t get discouraged when things go wrong. Things are going to happen, it’s a fluid situation especially with real estate, even more so when you’re just starting out. So you may have some missteps, but the important thing is to learn from those missteps. ” - Jeff Love “Disclose everything to your investors. You want investors to understand the deals as much as you do. The problem arises when you have investors that didn’t understand the deal, the risks of what they’re getting into, and just saw that massive return.” - Jeff Love “The point of disclosing is for the investor to actually see it and understand it and be okay with it.” - Jeff Love “There’s no substitute for a trust. You’ve got to trust the people you’re working with, you’ve got to like the people you’re working with. Because when you don’t, that’s where problems are gonna rise.” - Jeff Love Resources Mentioned: Tesla Apple Connect with Jeff, send him an email at jlove@gibbsgiden.com. Visit their firm’s website at https://www.gibbsgiden.com/.    Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Scrambling After the Lender Shorted Me - John Eitingon (Tue, 15 Dec 2020)
John Eitingon is a Managing Partner at DXE Properties. Before DXE Properties, John leaped and dived into the multifamily world, working on a 20-unit distressed property in Cincinnati, OH, as his first real estate investment. With over 8 years of experience in multifamily, John brings his expertise and a keen eye to acquisitions, identifying growth opportunities.  Things you will learn in this episode: [00:01 – 08:16] Opening Segment How to get in contact with John See the links below John talks about his background and his journey to real estate Took a leap into multifamily (20-units) as his first deal John talks about the most recent deal he closed A 140-unit property Structuring a deal based on equity [08:17 – 16:29] They Cut Loan Proceeds John talks about Bridge Loans What is a bridge loan? Why they prefer bridge loans Be unique What makes John and DXE Properties different from others John walks us through the process of managing deals involving bridge loans Making sure a property manager is going to perform and bring excellent results [16:30 – 18:17] Closing Segment Final words of wisdom for the listeners: “I think it depends on what you’re looking for. My advice is always like, for those just getting started in real estate is, in its simplest form – location, location, location.” Final thoughts     Tweetable Quotes: “I like deals that need a bridge loan. I think those are the ones where you can create a lot of value and I think those are the ones that give yourself an opportunity to really hit the home runs.” – John Eitingon “Bridge loans they’re going to be more expensive, so you do want to make sure the juice is worth the squeeze.” – John Eitingon   Resources Mentioned: Bridge Loans definition   You can connect with John on https://www.dxeproperties.com/ or send him an email at jeitingon@dxeproperties.com   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Following the Fire Truck to My Apartments - Tyler Lowe (Tue, 08 Dec 2020)
Tyler Lowe works for a pest control company in the day while making real estate investments on the side. His real estate journey started back in 2016 when he bought his first single-family property. Later on, he was able to buy an 8-unit apartment, but during a span of 6 months, they experienced 3 fires. Bouncing back up from these setbacks, Tyler joins us today to share the lessons he has to offer. [00:01 – 04:21] Opening Segment How to get in contact with Tyler See the links below Tyler talks about his background and real estate career He works for a pest control company as his day job His first deal was a single-family back in 2016 [04:22 – 16:30] Following the Fire Truck to My Apartments Tyler’s missteps 3 fires within six months of each other Tyler talks about each fire Bouncing back up from these setbacks [16:31 – 18:10] Closing Segment Final words of wisdom for the listeners: “Make sure you have reserves.” Final thoughts    Tweetable Quotes: “You need to make sure that you have some kind of reserves in the bank just to make sure when stuff does hit the fan – that you have some kind of backup plan as far as some money to pull to make sure you can get those things resolved. Because the faster you can get those things resolved the faster you can get somebody in there making money again.” – Tyler Lowe   You can connect with Tyler by sending him an email at greensalixrealestate@gmail.com Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Make Sure You Go in the Crawl Space - Ashton and Chris Levarek (Sat, 05 Dec 2020)
My guests for today are Ashton and Chris Levarek from the Valkere Investment Group, a family-owned company that offers choices and opportunities for passive investing by syndicating apartment deals and small multi-family properties. Let's dive into their story and get expert advice on real estate investing.  [00:01 – 05:08] Opening Segment Let’s get to know Ashton and Chris Levarek How to get in touch with Ashton and Chris?  Ashton shares their path to multifamily investing A 90-day commitment [05:09 – 15:01] A Partnership That Clicked Learn from Chris and Ashton’s multifamily missteps What saved them from these missteps? [15:02 – 25:29] A Mantra That Worked  Don’t miss Ashton’s real estate tips! Ashton tells us why we should take action first Chris shares 3 ways to start in real estate  [25:30 – 28:48] Closing Segment Hear words of wisdom from Ashton and Chris! Final words from me    Tweetable Quotes: “There are three ways to get into [real estate] You can passively invest in someone’s deal… or you can pay for a mentorship or you get lucky with a good friend or mentors doing this or...you go in yourself and you make all the mistakes. ” –  Chris Levarek “Take action. An action can be as little as committing to learning something new in the next 30 days.” –  Ashton Levarek Resources mentioned: BiggerPockets Long-Distance Real Estate Investing Thumbtack Joe Fairless The Three Immutable Laws of Real Estate Investing Monday Good People  Connect with Ashton on LinkedIn. You can also reach out to Chris via LinkedIn, Facebook, and Instagram. Visit their company’s website https://www.valkeregroup.com/ and check out their LinkedIn, Facebook, Instagram, and Twitter pages.   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Multifamily Investing Made Simple Take Over - Anthony Vicino and Dan Krueger (Fri, 27 Nov 2020)
Anthony and Dan take over the Multifamily Missteps Podcast and bring on their guest Sterling White. Support the show (https://www.facebook.com/groups/157335752156211/)


Wild Wild West - Ben Wuollet (Wed, 25 Nov 2020)
Ben Wuollet is the Acquisitions Manager for the Bakerson portfolio for over four years. His extensive experience in all facets of the acquisitions life cycle allows Ben to acquire properties quickly and efficiently. He has been directly involved in the underwriting, due diligence, property management, and closing of over 300 transactions during his term at Bakerson. Things you will learn in this episode: [00:01 – 03:42] Opening Segment How to get in contact with Ben See the links below Ben shares the trouble they had with some of their acquired properties in Tucson [03:43 – 18:00] The Wild Wild West Ben talks about how they handle property deals in troublesome neighborhoods Buying properties in both nice and rough neighborhoods The Bakerson Property model Making a difference in the neighborhoods and communities Getting feedback and taking time to cater to the concerns of their tenants and clients The Bakerson Philosophy [18:01 – 21:51] Closing Segment Ben’s words of wisdom for the listeners Final thoughts Tweetable Quotes: “We’re all in business to make money. But if you are only in business to make money, you start to lose your why, you start to lose the purpose and it becomes monotonous.” - Ben Wuollet “Never be too proud to pick up a broom. If there’s an issue, fix it. If you walk in the property and you see a piece of trash on the ground, just pick it up and throw it away. Don’t go find the maintenance guy and tell him to go pick it up.” - Ben Wuollet “Leave all things better than when you found them.” - Ben Wuollet Resources Mentioned: Wuollet Bakery Connect with Ben on LinkedIn. Visit their firm’s website at https://bakerson.com/ Call 877.969.1987   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Bait and Switch - Oscar and German Buendia (Tue, 10 Nov 2020)
I have the pleasure of talking with Oscar and German Buendia of the GoodDay Capital. Oscar and German own 1.5 million dollars worth of assets distributed to over 20 multifamily units. They bring years of experience in leadership and management to real estate investments. Today, they will share their multifamily missteps and the processes to address them.  Let's dive right in and get expert advice on real estate investing! [00:01 – 04:59] Opening Segment Let’s get to know Oscar and German Buendia How to get in touch with Oscar and German  They talk about their path to multifamily [05:00 – 13:10] Higher Number, Easier Funding Oscar shares the first big lesson in real estate They share the multifamily misstep they experienced Proper documentation is a must  [13:11 – 24:04] Due Diligence Listen to their plans to venture into larger multifamily deals! They talk about the power of social media to build an investor base The mistake they made with good people   [24:05 – 26:32] Closing Segment Hear words of wisdom from Oscar and German! Final words from me    Tweetable Quotes: “If [a property is] so mismanaged, we have an opportunity and upside here to turn it around.” –  Oscar Buendia “We have to stick to the plan. We cannot deviate just because of excitement.” –  German Buendia Resources mentioned: Michael Blank Vinney Chopra Connect with Oscar on LinkedIn and Facebook. You can also reach out to German via LinkedIn, Facebook, and Instagram. Visit their company’s website https://gooddaycapital.com/ and check out their LinkedIn and Facebook pages.  Listen to their podcast.  Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


10% From The Insurance Claim - Chris Lento (Mon, 09 Nov 2020)
I had the pleasure of speaking with Chris Lento today. Chris is the managing member of EM Capital LLC, focusing on acquiring commercial multifamily apartment complexes in markets across the country that exhibit positive growth trends. His passion is helping middle- and low-income families in overcoming housing issues through well-managed and well maintained economic housing.  Let’s jump into this episode and get expert advice from a real estate pro!  [00:01 - 02:19] Opening Segment How to get in touch with Chris Lento Links below Let’s get to know Chris  [02:20 - 10:07] 10% From Insurance Claim  Chris talks about an eye-opening misstep on plumbing you should hear! He talks about his experience on a private insurance investor What was his response when two residential properties broke down?  [10:08 - 19:38] With Broker or No Broker?  Chris talks about their in-place re-piping plans An on-call plumber is key Here’s another misstep from Chris you should hear Chris gives us a tip on when brokers should be called He talks about the importance of a good loan agency [19:39 - 21:14] Closing Segment Words of wisdom from Chris  Final words from me Tweetable Quotes:  “[If you have problems,] reach out. There’s a lot of nuances and things that could go wrong in multifamily investing but rarely are they new. Someone else had already dealt with that situation.” - Chris Lento “Check out podcasts. Check out other people’s websites. Call other investors...Just reach out because there’s a lot of solutions out there that maybe you wouldn’t have thought of and it could save you a lot of time and money.” - Chris Lento Resources Mentioned: BiggerPockets Email Chris at chrislento@emcapitalgroup.com. You can connect with him on LinkedIn, Facebook, and their website. Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


Leveraging Partnerships and Creative Financing to Build a 90+ Unit Portfolio by 23 with Harper Jones (Thu, 22 Oct 2020)
Today's episode with Harper Jones is a great one if you think you can't invest in real estate when you're younger - Harper has built a sizeable real estate business using creative financing and partnerships, all before the age of 23!    Harper is located in Knoxville, TN, and invests in real estate where he focuses on wholesaling and multi-family investments. He prefers to get creative with real estate deals when possible. Alongside real estate, Harper is part of CreateTailwind as a strategist to teach people how to become their own banker. He teaches people how to utilize this strategy in their day to day life and with their investments.     Show Notes and Highlights: - Harper shares his experience in door to door sales and how he learned programming to earn income on the side. - We discuss how Harper utilized direct mail to start his wholesaling business, which led to his first multifamily acquisition. - Harper shares his next few deals in college and how he structured his deals - We discuss how Harper builds additional relationships through conversing with landlords and brokers.  - Harper shares how a “personal approach” such as writing hand letters, door knocking, and calling landlords can help scale one's business.  - Harper shares why he used a 6% preferred return, followed by a 50/50 GP/LP Split.  - We discuss how age can be detrimental or advantageous to one’s business and how age is more of a mental barrier than anything.  - We talk about how stimulus checks and the current state of the economy will impact rent collections and the multifamily real estate market. - Harper shares how he negotiated and used creative financing to acquire a motivated seller's full portfolio through a very sophisticated deal structure.  - We discuss Harper’s goal of closing more deals and stacking more capital over the next 6-12 months. - Harper shares what he would do differently if he was restarting his real estate career.    CONNECT WITH HARPER:    His podcast about the Knoxville seller finance deal:    Part 1 Overview: https://createtailwind.com/2020/04/21/harper-jones-the-crossroad-of-infinite-banking-and-real-estate/ Youtube Video analyzing/reviewing the deal: https://www.youtube.com/watch?v=j3KqkkDblhs https://www.linkedin.com/in/harperajones/ harperajones@gmail.com CONNECT WITH AXEL: Follow him on Instagram Download the Investor's Toolkit (investor pitch deck, cash flow calculator, scope of work template, and renovation checklist). Support the show (https://www.facebook.com/groups/157335752156211/)


50% of the Equity - Spencer Gray (Tue, 20 Oct 2020)
Spencer Gray is the founder and president of Gray Capital, LLC, and Gray Properties, LLC. He has developed, leads, and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors.  Let’s jump into Spencer’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 03:11] Opening Segment How to get in touch with Spencer  See links below Spencer talks about his background and current focus Grew up in an entrepreneurial family Started his first real estate investment in highschool Sold his business in 2015 Focus on multi-family housing [03:12 - 11:59]  50% of the Equity Spencer talks about the solid B-class deal that he purchased  Joint venture project 314 units located in Carmel, Indiana Create the momentum to start the project and add values Fix some issue and calculation from the previous owner  Spencer talks about the finding the Funders to get to the deal Reaching out to the institutional funding equity groups that specialize in real estate If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Spencer talks about how he got the 340 unit deal It was off the market from a broker All about relationships, building the network, and being active  [12:00 - 18:19] Preventing Collateral Damage from Miss Steps Spencer talks about the financial implications and collateral damage after the rent bump Significant drop off in renewal  Occupancy went from 100% to 83% at one time and majorly affected annual cash flow Still able to hit the target return just because of the underwriting  Resolving the Rent Bump process Mostly happen on the 1st year of operation How to prevent Rent Bump Communication and community engagement  [18:20 - 19:54] Closing Segment What are your words of wisdom to our listeners? “Don’t just focus on the problem but start to focus on the ray of a different solution to open multiple doors. “Never assume anything, but communicate the problem, because communication is the key.” Final words from me Tweetable Quotes:  “When the deal gets bigger, it’s all about putting the right team together, getting the right people to the table to get the deal done .” - Spencer Gray “Don’t just focus on the problem but start to focus on the ray of a different solution to open multiple doors” - Spencer Gray You can connect with Spencer on LinkedIn and Facebook. Check his website at www.graycapitalllc.com/ or email him at spencer@graycapitalllc.com  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


Be Comfortable With The Market - Chris Larsen (Wed, 14 Oct 2020)
I had the pleasure of speaking with Chris Larsen today. Chris is a real estate expert, author, podcast host, and founder plus Managing Partner of Next-Level Income. Chris has been investing in and managing real estate for over 20 years. He is deeply passionate about helping investors become financially independent through education and investment opportunities with his experience. Let’s jump into Chris’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 07:19] Opening Segment How to get in contact with Chris See links below Chris talks about his career background and journey in real estate He has a bachelor's degree in Biomechanical Engineering and M.B.A. in Finance at Virginia Tech Chris talks about his entrepreneurial side Pivoting from stock market to real estate [07:20- 13:29] Being Comfortable with the Market  Chris talks about the challenges he faced in real estate We learn more from the mistakes we made The biggest motivation for him in writing his book was so people can learn from his journey and the mistakes he made in the past Chris talks about the three things that investors need to look at when it comes to Multifamily Make sure that you’re comfortable with the Market that you invest in Make sure that you understand the operator’s experience and the team Make sure that you know the deal, especially the investment return The goal is to expand the value that you provide  Chris talks about his experience in investment with his former partner [13:30 - 19:54] Finding your True Skills  Chris talks about his self-discovery and how to be good at your skillset If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Chris talks about all the different area of investing Short term cost and the long term cost [19:55 - 27:40] The Key is to Communicate  Chris talks about the conversation to unravel a partnership The key indicator to understand your team Fundamental process change to prevent the unraveling of partnership [27:41 - 29:39] Closing Segment What are your words of wisdom to our listeners? “ Dream big! Do not shy away from your dream and aspiration.” “Find, learn, and reach out to someone that has achieved what you want to achieve .” Final words from me Tweetable Quotes:  “If something doesn’t work, look at it as a learning experience and look forward. The lesson that you learn and the relationship that you build are much more valuable than the cost that took you there .” - Chris Larsen. You can connect with Chris on LinkedIn, and you can also visit the website at www.nextlevelincome.com/. Click here to get a free copy of his book https://www.nextlevelincome.com/ebook.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


In 2016 market heated up in Chicago - David Evans (Wed, 14 Oct 2020)
I had the pleasure of speaking with David Evans today. David is a real estate expert and the Founder of the Investment Property Advisors LLC. With his deep passion for real estate, David’s primary focus is advising investors on how to best position themselves when buying and selling investment property to minimize risk while increasing their upside. [00:01 - 07:39] Opening Segment How to get in contact with David See links below David talks about his career background and journey in real estate David talks about how he sources the eight-unit apartment Business plan of the property David talks about the issue he got with the property manager [07:40 - 11:44]  In 2016, Market Heated Up in Chicago David talks about the lessons he got when he manages the property More about finding the right property management company How to choose the right property management company to move forward The importance of the economy of scale  Require more units To mitigate cost, you still need to be involved to a certain extend  Avoid upcharge  If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! [11:45 - 16:17] The Vacant Basement Units David talks about taking the platform for his property management agreement from another property management and modify Make sure that there are a 30 days notice termination clause on the agreement The downfall is we do not exercise the action soon enough in most cases David talks about the financial impact of changing property management The challenge of running a basement units [16:18 - 19:12] Closing Segment What are your words of wisdom to our listeners? “Be very careful about how you choose your partners and make sure there is a clear understanding of role and responsibilities.” “ When a relationship is not working with the property management company, don’t be hesitate to terminate the relationship; it will save you so much money later.” “Take action swiftly when you do have vacant units because that is lost income.” “Reach out and research as many housing programs in your area as possible.” Final words from me Tweetable Quotes:  “Be very careful on how you choose your partners and make sure there is a clear understanding of role and responsibilities.” - David Evans. “ When a relationship is not working with the property management company, don’t be hesitate to terminate the relationship; it will save you so much money later.” - David Evans. “Take action swiftly when you do have vacant units because that is lost income.” - David Evans. You can connect with David on LinkedIn and the phone at 773-678-621 or email him at david@investmentpropertyadvisorgroup.com. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episode. Support the show (https://www.facebook.com/groups/157335752156211/)


I Didn't Understand the Retail - Matt Anices (Tue, 15 Sep 2020)
I had the pleasure of talking with Matt Anices, a multi-family investor, and syndicator. He also serves as a sales consultant for a development company in Atlanta, Georgia, and currently a sales executive at Lead Revenue, LLC.  Let's jump into Matt’s story and get expert advice from a real estate pro! [00:01 – 07:40] Opening Segment Matt Anices talks about his background and how he got into real estate He shares that he started in real estate by learning from and linking with the right people  [07:41 – 16:58] I Didn’t Understand the Retail Matt shares the challenges he encountered with retail business Prepare better for the worst  Reach out faster to experienced people  Here’s a quick shout out to our channel, Myers Methods Matt talks about what he would have done differently Matt talks about the importance of relationship-building in the real estate business  Understand people’s goals Listen to people to determine what’s important for them  [16:59 – 20:58] Closing Deals Quickly  Matt talks about going after deals fast because they can also fall apart fast He shares about the changes he made for him to avoid losing deals again  [20:59 – 22:16] Closing Segment Matt shares some words of wisdom in doing real estate business Keep learning Stay innovative Don’t be afraid to reach out to people Tweetable Quotes: “There’s always opportunities to innovate people’s businesses and to stand ahead of the curve.”  – Matt Anices  “When you have a deal, go after it. Don’t be afraid of it.”  – Matt Anices Resources Mentioned: Myers Methods You can connect with Matt on 9724417995 or follow him on Instagram, Facebook, and LinkedIn. Check out Lead Revenue, LLC on LinkedIn.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


5.2 MM Lost in the Wire - Bruce Petersen (Thu, 10 Sep 2020)
I had the pleasure of speaking with the Founder of The Apartment Guy℠, Bruce Petersen. He is a serial syndicator of large multi-family properties throughout Central Texas. Let’s jump into Bruce’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 04:10] Opening Segment Bruce talks about his background and where his journey began The first one to graduate high school in his family, dropped out of college and failing in the retail industry Found a good real estate mentor, and jumped right into Multi-Family Syndication [08:55 - 15:59] 5.2 MM Lost in the Wire Bruce shares his missteps in the real estate business  Bruce shares some unexpected experience in the real estate business Bruce shares the story about his deal that got lost because of the wire  How to be prepared for any unexpected case [16:00 - 21:05] The Hard Truth about Multi-Family Syndication Bruce shares the hard truth about Multi-Family Syndication Bruce talks about preparing to spend our own money on the deals Bruce talks about the strategy to avoids traps on deals [21:06 - 26:23] Closing Segment What is your newly launched book about? “It is about sharing to people the real hard truth about Multi-Family Syndication, that it is not as easy as the theory“ What are your words of wisdom to our listeners? “Understand who you are, don’t just go chasing dollar sign, but do it because you like it” “Be transparent and upfront when things go wrong” “Be self-aware and don’t put yourself in a bad situation” Final words from me Tweetable Quotes:  “Understand who you are, be self-aware and don’t put yourself in a bad situation” - Bruce Petersen You can connect with Jeffrey on LinkedIn, Facebook, and Instagram For a free copy of his book, go to apt-guy.com/get-v-book LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


We'll Fund it without the Lender - Feras Moussa (Tue, 08 Sep 2020)
Feras Moussa graduated from the University of Texas with a degree in Computer Science and worked at Microsoft. In his first 12 months, he built his portfolio completing nine closings. Feras then scaled up into Apartments and started Disrupt Equity with Ben.  Things you will learn in this episode: [00:01 – 07:52] Opening Segment How to get in contact with Feras See the links below Feras talks about his background in real estate Leveraging existing process in systems and software What led to the name Disrupt Equity He also talks about finding deals [07:53 – 14:25] Fund it Without the Lender Why is it difficult to work with bridge lenders They are not fixed with their interest rate Their strategies in different kinds of deals Feras also talks about their extra 800 thousand dollars [14:26 – 20:08] Closing Segment Feras’ words of wisdom for the listeners: Know your lenders and partners on the deals Final thoughts Tweetable Quotes: “No deal goes perfect” - Feras Moussa “Know who your lender is, they are your partner on the deal.” - Feras Moussa “Make sure you have reserves. More reserves than you might need, depending on the deal.” - Feras Moussa  Resources Mentioned: Microsoft Fannie Mae Freddie Mac   Connect with Feras, send him an email at feras@disruptequity.com  Visit their firm’s website at Disrupt Equity Partners.   Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3 Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC Support the show (https://www.facebook.com/groups/157335752156211/)


The Wild Wild West - Ben Wuollet (Tue, 01 Sep 2020)
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That's Why We Fired Them - Devin Elder (Fri, 28 Aug 2020)
I had the pleasure of speaking with real estate entrepreneur, and the founder and principal of DJE Texas Management Group, Devin Elder. Let's jump into Devin's story and get expert advice on how you can switch from single-family to multifamily real estate. [00:01 – 03:23] Opening Segment Devin Elder talks about his background and how his journey began Spent about ten years in corporate America Wanted to be an entrepreneur (pursued real estate) [03:24 – 10:11] From Flipping Houses to Apartment Buildings Why did you switch from flipping houses to apartment buildings? "I'm real big on learning." Have there any been issues with running your apartments? "I absolutely had stuff go wrong, still goes wrong, every day." [10:12 – 18:48] Devin's Missteps Devin shares some of the problems they faced in their company As entrepreneurs, there are times that you just have to take the leap [18:49 – 24:53] Scaling His Multifamily Portfolio How big was your first apartment? Devin talked about his approach when he switched to multifamily Devin talks about the mindset to become successful Shares some actionable advice that you can apply in your life [24:54 – 30:15] Closing Segment Devin gives powerful words of wisdom that you don't want to miss! What does it mean for you to be all in? Devin reflects on how he was able to reach where he is now   Tweetable Quotes: "My default assumption is, somebody's gonna try to steal from me. Somebody's gonna not pay rent. Somebody's gonna quit on-site. And when those things happen you go, ‘Yup, I expected that. It's figuring out how to put in a plan that can deal with all those things’." – Devin Elder "I think that's important for passive investors to understand: there's a lot of dollars in this business. Pro and Con, right? There's a lot of money to be made, but guess what? There's a lot of money to be spent and a lot of operating capital to float too." – Devin Elder "Anything that man can conceive and believe, he can achieve." – Devin Elder     You can connect with Devin on LinkedIn. Visit his website https://www.devinelder.com/. Check out DJE Texas Management Group’s website for more information on real estate investment opportunities. Listen to his podcast, The DJE Podcast.   LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Trust But Verify - David Pere (Tue, 25 Aug 2020)
David Pere is an active-duty Marine who devotes his free time to teaching service members and veterans how to build wealth through real estate investing, entrepreneurship, and personal finance. In this episode, David shares some of his experiences and issues that he faced on his investment deals so we can all learn from it. Let’s jump into David’s story and get expert advice to avoid any potential issue from a real  estate pro!  Things you will learn in this episode: [00:01 - 03:24] Opening Segment David talks about  his journey in the investment [03:25 - 15:29] Trust But Verify David talks about one of his deal and a contractor  Faced some unforeseen issue with the contractor and the building Fix the house, sold it, and got half of his money Lost about $30.000 What could we do to avoid this kind of issue Get a property manager to check the details in the property before giving any checks  Change the billing structure to ensure what your contractor is doing and stays on schedule  Increase the oversight on contractors and stricter contracts  If you are interested in getting into multifamily or scaling your current business; hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Issues may come up, but you just have to adjust your system and keep pushing  [15:30 - 27:59] Have Everything in Writing  David shares the story about one of his deal that had an issue with the property manager in 2018 40 Units mix-use building in Southwest Missouri for $3million  Faced some weird issue by the second month of ownership He was losing two or $3,000 a month since Got the contract breached by the contractor and previous owner  Put legal action proceeding for 14 months and scheduled on July for the jury court case on this deal  David shares the lessons he got from this  Always have his trusted property manager and have her to do the due diligent with him Have everything in writing, not just over the phone  Be more decisive  [28:00 - 31:00] Closing Segment What are your words of wisdom to our listeners? Trust but verify “If you say that you are going to do something, you have to do it.” Always learn, network, and take action  How to get in touch with David See links below Final words from me Tweetable Quotes:  “Issues may come up, but you just have to adjust your system and keep pushing.” - David Pere. “Trust but verify, always have everything in writing, and be more decisive. ” - David Pere. “If you say that you are going to do something, you have to do it.” - David Pere. You can connect with David on LinkedIn, Instagram, and Facebook. Check his website at www.frommilitarytomillionaire.com.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


No Pushing - Spencer Hilligoss (Tue, 11 Aug 2020)
Today I had the pleasure of speaking with Spencer Hilligoss. Spencer is a real estate expert, Founder of Madison Investing, former technology leader, and part of Forbes 2019 Real Estate Council. With a 13-year track record of building high-performing teams across five companies, he is passionate about real estate investing and helping others achieve their goals through real estate. Let’s jump into Spencer’s story and get expert advice from a real estate pro!  Things you will learn in this episode: [00:01 - 05:00] Opening Segment Spencer talks about his background and current focus Spencer shares the story about his early exposure to real estate [05:01 - 15:59] The Hard Learning Spencer talks about his experience in the last company he worked with Investing criteria The concept three pillars Spencer shares about his experience with underwriting knowledge Holistic decision making Have cash reserves  Underwrite the operator (how do you evaluate) Build out vetting criteria for the team that running a multi-family project Spencer talks about the sniff test in real estate investment Spencer talks about doing Capital call  You want your investors to invest because they think it is the right decision for them Not because you got to cross the finish line faster  [16:00 - 28:29] No Pushing Spencer shares another story about the miss-steps he took  investing with other passive investors Hardcore education focus Taking off all the pressure that you wouldn’t ever want to experience  Spencer talks about the signs when you are pushing The sense that you have to push too hard  If you are interested in getting into multifamily or scaling your current business;  hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Spencer talks about aspiring passive investors [28:30 - 35:57] Closing Segment What are your words of wisdom to our listeners? “It’s less about the quantity, but more about the quality of the application of the knowledge you get from books or podcasts.” “Pick the one knowledge that resonates with you, take note, and do some stuff with it.” Spencer talks about a good coaching program The person that you work with don’t pull punches The ability to accept feedback from the coaches  Have they done what you are looking to do? Final words from me Tweetable Quotes:  “You never ever should need to feel like you pushed when it comes to capital raising or involves other people's money .” - Spencer Hilligoss. “It is more important to be understood than to sound smart to the clients ” - Spencer Hilligoss. You can connect with Spencer on LinkedIn and check his website at www.madisoninvesting.co  or email him at spencer@madisoninvesting.co  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. Support the show (https://www.facebook.com/groups/157335752156211/)


They Backed Out - Leslie Awasom (Thu, 06 Aug 2020)
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Speculating vs Investing - Paul Moore (Thu, 30 Jul 2020)
Today I had the absolute pleasure of speaking with the Managing Partner of Wellings Capital, Mr. Paul Moore. Let’s get into Paul’s story and wisdom on making the right investments and his mistakes in the multifamily field and his so you can avoid them.  Things you will learn in this episode:  [00:01 - 04:00] Opening Segment  I introduce our guest, Paul Moore Paul Introduces himself and gives his background of how he started flipping properties then realized he wanted to get into multifamily real estate.  [04:00- 13:35] Paul’s Misstep Stories - Investing vs. Speculating       ●     Paul talks about his mistakes in the field by speculating instead of truly investing Ignoring advice from mentors leading to Paul losing money on a deal Why Paul was unable to raise apartment rent  Paul talks about how to prevent his mistake from happening He talks about this in his book The Perfect Investment   Realizing multifamily real estate has a lot of competition, Paul looks towards different types of multifamily homes.  [13:35 - 17:58] Closing Segment  Words of Wisdom for our listeners Make sure to invest and not speculate.  Make your mistakes while you’re young Don’t plow a whole high percentage of your cash into one property Paul talks about diversification  The One Thing - Gary Keller  Final words from me Tweetable Quotes: “In Real Estate there are so many opportunities to invest safely and part of that can be reflected in the debt service coverage ratio; The margin of safety between your net operating income and your debt payments… there are so many good ways to invest but you shouldn’t have to speculate and so I recommend people really think through that.” - Paul Moore   You can connect with Paul and his team at  wellingscapital.com. Also, be sure to check out his podcast How to Lose Money. You can also visit him on LinkedIn.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Something Is Making Noise In the Ceiling - Sam Stidwell (Tue, 28 Jul 2020)
I had the pleasure of speaking with a research architect at the US Army Corps of Engineers, Samuel Stidwell IV. Let’s jump into Sam’s story that failures are part of the process, and it’s a stepping stone for you to learn and be better than you from yesterday. Things you will learn in this episode: [00:01 – 04:37] Opening Segment Sam talks about his background and how his journey began His father was in the real estate industry Majored in Architectural Engineering Just started in real estate recently [04:38 - 14:09] Sam’s Missteps Sam shares his missteps in the real estate business Sam talked about wanting to learn the process by doing it himself  Sam shares some tips he learned from his missteps [14:10 – 19:39] Your Knowledge is Your Leverage Sam talks about not having a formal education in real estate The importance of getting formal education to prepare you into getting in real estate Sam gives powerful words of wisdom that you don’t want to miss!   Tweetable Quotes: “Don’t be too overconfident” – Sam Stidwell “Everybody makes mistakes, but that doesn’t mean that that’s the end of the road” – Jerome Myers You can connect with Sam on Instagram, Linkedin, and Facebook. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Man On Fire - Matt Faircloth (Thu, 23 Jul 2020)
I had the pleasure of talking with Math Faircloth, President and Director of Investments of The DeRosa Group, a family-owned business dedicated to transforming lives through real estate.  Let's dive into Matt’s story and get expert advice on real estate investing.  [00:01 – 06:45] Opening Segment Matt Faircloth talks about his background and how his journey in real estate began His first deal was a single-family home he rented to two friends After getting married, he and wife started The DeRosa Group [06:46 – 14:37] How to be a Hero Matt tells us two ways to grow in real estate that you don’t want to miss! Matt shares that he identified with a certain Marvel Avenger for being a courageous person and a strong soul inside He shares that his superpowers are explaining complicated things, being a good motivator, and bringing the energy out of people [14:38 – 24:35] Women and Diversity in Real Estate Matt tells us how his wife got involved in the real estate business He talks about his approach in looking for talented people He shares his ideas on the issue of equality in the country  [24:36 – 38:36] The Man on Fire  Matt talks about his experience of losing money He talks about two important historical figures as he shares his approach in dealing with challenges Matt shares the key changes he made to avoid losses again He talks about 1031 exchanges  [38:37 – 40:48] Closing Segment Matt shares some words of wisdom you might want to check out! What will you do in your dark moments?    Tweetable Quotes: “It’s such a life hack to be able to reduce my expenses drastically to the point where I was making a good salary, but my cost of living was zilch.” – Matt Faircloth  “Those that are successful in life are those that just simply don’t quit.” – Matt Faircloth “In your dark moment, don’t quit.” – Matt Faircloth  Resources mentioned: The DeRosa Group Raising Private Capital The Real Estate InvestHER Show Rich Dad Poor Dad You can connect with Matt on LinkedIn and Facebook. Visit their company’s website https://www.derosagroup.com/ and check out their YouTube channel.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


They Are Shooting - Jason Yarusi (Tue, 21 Jul 2020)
Today I had the pleasure of speaking with the CO-Founder of Yarusi Holdings, Jason Yarusi. Let’s dive into Jason’s story of the missteps and how to improve the value of the asset to provide a monthly passive income.  Things you will learn in this episode: [00:01 - 05:19] Opening Segment Fabiola talks about her background and how he got into the multifamily real estate  Connect with Jason, see below for the links [05:20 - 17:50] Problems Affecting Real Estate and How to Improve the Operations  Jason talks about some of the issues he experienced with investing in real estate and how he's been able to solve or deal with it. Jason shares how he addresses the various questions and needs of potential investors What is the problem? How to address it? What is the estimated time of completion? [17:52 - 23:37] Things You Need To Take Into Account: The Property and The Safety Of The Area  Jason provides valuable guidance on what investors should consider when investing in assets older than 1990 or 1980 Jason shares things which you also have to take into account not only the property but also the area around your property, is it safe? Jason offers guidance on if a crime has occurred in the area you purchase [23:38 - 26:53] Closing Segment What are your words of wisdom to our listeners? “You have to act and implement.”  What are your thoughts with mentorship and doing on their own? Do you think it’s helpful for somebody? “It depends on your attitude. You can do both.”    Tweetable Quotes:  “In running a business, there's a certain point where you have to be revenue and expense driven, but you also have to think of people in mind too” -Jason Yarusi  You can connect with Jason on Instagram, Facebook LinkedIn, Youtube, and listen to their podcast The Jason and Pili Project.   LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show (https://www.facebook.com/groups/157335752156211/)


Getting Over the Hump - Kyle Mitchell (Tue, 14 Jul 2020)
Today I had the pleasure of speaking with a multifamily syndicator, co-founder of Limitless Estates, Kyle Mitchell. Listen to Kyle 's story of how multifamily investment can be successful with consistency. Things you will learn in this episode: [00:01 - 04:20] Opening Segment Connect with Kyle Mitchell +5628335010. See below for his social links  Kyle talks about his background and how he started investing in real estate [04:21 - 09:36] Kyle’s First Multifamily Deal  Kyle shares an exciting story about his first multifamily deal  Closing 42-unit property in Tucson How he raised a million dollars on a deal  How he did his first deal with no prior existing multifamily experience [09:37 - 15:07] Kyle’s Experience in Multifamily Syndication Kyle talks about how his multifamily experiences in splitting syndication Kyle talks about the importance of building a partnership in dealing with multifamily syndication Kyle shares a fantastic story on why he quit his job to pursue his passion  [15:08 - 23:03] Raising Capital Practices  Listen to Kyle’s advice for someone like you who plans to have a career change  Kyle’s shed some light on what he learned after he closed two deals  Dealing with the lender and raising capital  Kyle’s capital raising practices  Building a relationship  Educational platform add value back to the people.  Kyle talks about how he built his investor database Kyle shares his experience in raising money  Kyle talks about the importance of joint venture  [23:04 - 24:37] Closing Segment The words of wisdom you have for our listeners?  “It’s all about consistency.”    Tweetable Quotes:  “As anyone who wants to get started in multifamily investing, the biggest thing that we have done that's created success for us is consistency” -Kyle Mitchell. You can connect with Kyle on Linkedin, Twitter, Facebook, Youtube, Visit his Podcast.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Its My Own Cash - Fabiola Fleuranvil (Tue, 30 Jun 2020)
I had the pleasure today to speak with real estate developer + CEO of Blueprint Creative Group, Fabiola Fleuranvil. Let’s jump into Fabiola’s story of how to scale your business into investing in affordable senior living development projects.  Things you will learn in this episode: [00:01 - 06:55] Opening Segment Fabiola talks about her background and her investing journey  Connect with Fabiola, see below for the links [06:56 - 14:31] How to Scale Your Business From Small To Big deal  Fabiola shares an incredible story about her transition from fix and flips to multifamily How she was able to recover during a market crash in 2015 to 2016  Fabiola talks about how she scales her property business.  Looking for a growth market in which competition is not so high  How to redevelop your business plan into an affordable assisted living facilities  [14:32 - 21:02]  How to Raise Equity  Fabiola shares a fantastic story about how she met her operating partner Fabiola provides valuable insight into how to raise equity to purchase a property that is a dead asset She bought the building initially with her cash Networking  [21:03 - 25:43] Closing Segment  Are there any missteps along the way with the acquisition of the property? “No, because I've had more than enough time to digest this” The words of wisdom you have for our listeners?  It’s  the fear factor that people have to get rid of” “It’s so much easier to raise on a big deal than it is to raise on a small deal.”   Tweetable Quotes:  “It's better to lose it and make it back versus to be so scared to lose it that you never even try in the first place” - Fabiola Fleuranvil You can connect with Fabiola on Linkedin, Facebook, Instagram, or visit their company website Icon Heritage Partners.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Too Many Hands in the Pot - Ryan Groene (Tue, 23 Jun 2020)
I had the pleasure of speaking with the mobile home park investor and director of operations of Buckeye Communities, Ryan Groene. Let’s dive into Ryan’s story of how learning from your mistakes can help you grow better. Things you will learn in this episode: [00:01 – 5:47] Opening Segment Ryan talks about his background and how his journey began Studied finance in college Worked in financial analysis and investments companies [05:48 – 10:29] Ryan’s Missteps Ryan talks about his business and partnerships Ryan shares when he realized having too many hands in the pot was a misstep [10:30 - 18:02] Ryan’s Methods Ryan shares how he structures his deals to get the best out of it Ryan’s checklist before engaging in deals Ryan shares how he manages the debt side of his investments [18:03 – 24:00] Closing Segment Ryan talks about how mobile home parks work Ryan gives some inspiring words of wisdom that you wouldn’t want to miss!  Ryan explains why investing in real estate is more straightforward than other forms of investments. Tweetable Quotes: “Read as much as you can, talk with as many people as you can, and then at the end of the day, don’t be scared by thinking that real estate is complicated.” – Ryan Groene You can connect with Ryan on Facebook, Instagram, and Linkedin, or you can send him an email at ryan.groene55@gmail.com. If you want to learn more about mobile home park investing, visit https://themobilehomeparkinvestor.com/. LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Scaling Out of the Bedroom - Ivan Barratt (Thu, 18 Jun 2020)
Today I had the pleasure of speaking with the Founder and CEO of Barratt Asset Management, Ivan Barratt. Let’s dive into Ivan’s story of how to scale your business to get the highest Return Of Investment  Things you will learn in this episode: [00:01 - 05:36] Opening Segment Ivan talks about the protests happening in the mids of COVID-19 racism Connect with Ivan +317.762.2625 or see below for the links  [05:37 - 14:02] Evaluate First Your Potential Partners  Ivan talks about his background and his real estate journey  Ivan mentions Ken McElroy who says real estate is not location, location, location. It's, it's location, financing, and partners.  Ivan shares the importance of evaluating individuals and potential partnerships in order to prevent the awful mistakes he had made before Personality test [14:03 - 26:48]  Scaling Out Of the Bedroom Ivan reveals how to construct the foundation of a strong organization  really good trusted attorney  hired an admin or assistant much faster  Ivan shares his 4 coaches in his life that you wish to listen to!  Ivan shares an interesting story about the significance of having a coach in your life Coach is worth every penny. It’s a huge return of investment Ivan  gives powerful words of wisdom to someone like you who wants to scale a business What do I have to do today, that will move the chains on where I'm trying to be Tomorrow Read five to eight business books over the course of the year Tweetable Quotes:  “Don't let that fear or those things slow you down” -Ivan Barratt “You gotta delegate so that you can elevate” -Ivan Barratt Resources Mentioned:  ivanbarratteducation.com  (Blog) barrattassetmanagement.com  (Company Website) ivanbarratt.com  (Personal Website) You can connect with Ivan on Facebook LinkedIn, Twitter, Instagram  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


I Should Have Bought It - Jeffrey Holst (Tue, 09 Jun 2020)
I had the pleasure of speaking with the speaker and founder of Old Fashioned Real Estate Group, Jeffery Holst. Let’s jump into Jeffrey’s story and get and expert real estate advice from a real estate pro!  Things you will learn in this episode: [00:01 - 04:10] Opening Segment Jeffrey talks about his background and where his journey began He was diagnosed with leukemia Visit Jeffrey’s personal website Jeffreyholst.com  Listen to his show the Old Fashioned Real Estate Show  [04:11 - 14:27] Jeffrey’s Missteps   Jeffrey shares his missteps in the real estate business  Jeffrey shares some best practices with his business partner  [14:28 - 23:05] Scaling Your Real Estate Business  Jeffrey talks about getting someone for consultation instead of bringing them in as a long-range partner  Jeffrey shares about how to get better and grow your real estate business how they bridge the gap of his inexperienced business partner Jeffrey gives powerful words of wisdom that you don’t want to miss!  Tweetable Quotes:  “No matter what happens in the world, you can get through it by just moving forward one step at a time” - Jeffrey Holst  You can connect with Jeffrey on LinkedIn, and Facebook, Instagram, and Youtube.  LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


I Was Asking for Money - Tim Kelly (Tue, 02 Jun 2020)
I had the pleasure of speaking with the Director of Multifamily Education & Executive Partner at Active Duty Passive Incom, Tim Kelly.  Let’s jump into Tim’s story of the recipe to success that you could apply to any facet of life. Things you will learn in this episode: [00:01 - 06:27] Opening Segment Tim talks about his background and his real estate journey  Free Coach Session with Tim. Call +1 847-910-9161 Tim mentions Robert KiyosakiTom Wheelwright, Grant Cardone Tim talks about he discovered multifamily  [06:28 - 18:12] How To Raise A Capital  Tim talks about his approach to raising money and getting deals done Tim shares his struggles in raising capital  Tim shares an interesting story on how he scales up the investor flow [18:13 - 30:57] Finding Success in Real Estate Through Linkedin and Paid Coaching  Tim gives tips on how LinkedIn can be used to network your business Tim gives valuable advice on finding success in the real estate business  Invest in paid coaching  Tim gives powerful words of wisdom about the recipe to success  Learn, Network, Add Value and Take Action Tweetable Quotes:  “If you're not willing to invest in yourself, I don't think you deserve to succeed in business” -Tim Kelly  “Your income is a direct result of how you grow as a person” -Tim Kelly You can connect with Tim on Instagram, LinkedIn, Facebook, and Youtube. Or visit his personal website thetimothykelly.com LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes. If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling! Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211) Support the show (https://www.facebook.com/groups/157335752156211/)


Don't Over Pay - Ryan Wehner (Thu, 21 May 2020)
Knowing the ingredients, the projections, and understanding the staff will save you in the long run. Ryan Wehner talks about some of the common missteps and the important role relationship plays in real estate. He delves into the ingredients and some of the factors that come into play when acquiring a new property. Because each property isn’t the same, vetting property and properly placing management is key to the property’s success. Ryan Wehner is a Property Manager with over 25,000 units and counting.  KEYPOINTS Contingency money Overleveraging and overpaying Property management best practices  Building an online presence pre and post COVID Property management integrity   SEGMENT TIMESTAMPS 01:20 – The elevator pitch  03:45 – General missteps owners make  07:00 – How to know when you are overpaying  13:00 – Getting the most out of a property  20:00 – Vetting a property manager 39:00 – Advocating for yourself as an investor.  Your best advocate as an investor is yourself, you are your own best advocate. - Ryan Wehner RELEVANT LINKS Ryan Wehner Website: http://www.wehnermultifamily.com/ Email: info@wehnermultifamily.com     Support the show (https://www.facebook.com/groups/157335752156211/)


Don't Cash Flow the Rehab - Colin Douthit (Tue, 12 May 2020)
Colin Douthit joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps in his early property management days. We learn why he believes you shouldn't try to cash flow the rehab of your property.  Colin also shares the details on why he has decided to use a debt broker instead of going directly to the bank.   Colin believes that the most important thing you can do is know the rules In this weeks show we learn about: - why physical vacancy goes up when you institute professional property management - how deferred maintenance kills profitability - the challenges associated with refinancing - why you want to have substitution of collateral in your loan - what happens when people live in a unit without a lease - the risk associated with fair housing lawsuits - why self managing isn't a good strategy for cost savings - the importance of communication from the property manager to the owner If you are interested in getting more multifamily investing education go to www.myersmethods.com Support the show (https://www.facebook.com/groups/157335752156211/)


Community Makes the Difference - Janene Tompkins (Sat, 09 May 2020)
Janene Tompkins joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps with her units being "retail" purposes and the struggles associated with strong property management. We learn why she believes that real estate is a great addition to her stock market investments.  Janene also shares the details on how she inherited a pitbull puppy.   Janene believes that the most important thing you can do to make your property do well is creating a sense of community and ownership In this weeks show we learn about: - the challenges with self management - the importance of selecting a safe neighborhood - what to do if your vacant unit is broken into - risk associated with out of state investing - why you must go in each unit during your inspection period - challenges of deferred maintenance during take over - importance of having enough time to allocate to new property turnovers If you are interested in getting more multifamily investing education go to www.myersmethods.com Support the show (https://www.facebook.com/groups/157335752156211/)


500 K Short and 30 Days to Close - A Donahue Baker (Tue, 05 May 2020)
The best solution is creatively finding alternative solutions work best for solving the problem. A Donahue Baker gives tips on finding funding as a real estate developer and developing new ways of closing the deal. He talks about leveraging his network, finding alternative means for funding, and understanding business credit. A Donahue Baker is a CPA by trade but is currently a Real Estate Developer. Join A Donahue Baker as he delves into his missteps as a real estate developer, and creatively coming up with 500K to close a deal. KEYPOINTS Finding alternative means for funding Deal sourcing 3 Tiers of Section 8 Understanding business credit SEGMENT TIMESTAMPS - 05:00 – Misstep 1: Not having the funding. Finding alternative meanings of funding. - 13:15 – Forming strategies for success. Building and leveraging network. - 17:00 – Leveraging business credit. Get it under contract. - 23:00 – How to build business credit. Entities (LLC, S-Corp, etc.) - 26:00 – Words of wisdom. "When you find a deal, even when you don’t have the money, the first thing you do is get it under contract." – A Donahue Baker RELEVANT LINKS A Donahue Baker - Website: https://adonahuebaker.com/ - Instagram: https://www.instagram.com/adonahuebak... - Facebook: https://www.facebook.com/adonahuebake... - Twitter: https://twitter.com/adonahuebaker?lan... - YouTube: https://www.youtube.com/channel/UChzl...  RECOMMENDED READS - Generational Wealth That’s The Key – A Donahue Baker Support the show (https://www.facebook.com/groups/157335752156211/)


Jacked Up - Kenny Wolfe (Thu, 30 Apr 2020)
Kenny Wolfe joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps with coordinating move outs to lift a building. We learn why he decided to bring property management in house and how to buy across the country.  Kenny shares how he jumped into multifamily by doing two passive deals and then syndicated a 76 unit.  We hear about a 2 bedroom unit with 16 mattresses in it and the pain of finding sewer breaks. Kenny believes that there isn't much difference between driving an hour and a half and flying the same distance. In this weeks show we learn about: - importance of accurate accounting - things to look for when buying a company - how to upskill your company by hiring - what happens when cash for keys doesn't work - challenges of older properties - what drove the migration to Texas - how much "cushion" is enough - what dilution of equity means - importance of being a people person If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to Kenny Support the show (https://www.facebook.com/groups/157335752156211/)


Rejected Certificate of Occupancy - Andrew Keel (Thu, 23 Apr 2020)
With every story, there’s a beginning, middle, and end, but always expect to the unexpected. Andrew Keel shares his stories of starting as a Lonnie Dealer, flipping homes around Central Florida, and his $60,000 mistake. He delves into the consequences of not doing due diligence, contacting veterans who have experience in the field, and forming partnerships. He gives insight into investing in mobile homes, mobile home parks, and the benefits of personal and professional development. Andrew Keel is the CEO of Keel Team Real Estate Investments, and an Elite Mobile Home Park Investor and Operator.  KEYPOINTS 00:10 – Flipping home to Lonnie Dealer  05:30 – The $60,000 Mistake  13:16 – How to value a mobile home lot 14:40 – Andrew Keel’s words of wisdom  15:20 – Mutually beneficial partnership  “Seminars aren't gonna teach you everything you need to know, you gotta get your hands dirty, you gotta dig in!!!” – Andrew Keel Alex Keel:  Website: https://www.keelteam.com LinkedIN: https://www.linkedin.com/in/andrewkeel/ Support the show (https://www.facebook.com/groups/157335752156211/)


Putting Up 100k Hard - Ryan Narus (Tue, 21 Apr 2020)
Ryan Narus joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss the missteps going from being rejected by 40 banks trying to get into his first deal to closing a $10,000,00 deal. We learn the risk associated with 1031 exchanges.  Ryan shares how he went to 40 banks and got rejected and how they put up 100k hard to buy an extra 30 days to smooth out a deal.  He also takes us through a break down on how he makes it easy for sellers, why he is comfortable putting money at risk based on other's promises, and why money has to go to escrow instead of directly to the seller Ryan believes that you have to be ready for the unexpected. In this weeks show we learn about: - frustrations of entrepreneurship - the risk of full leverage debt - value of networking - how escrow works - why zoning is important - the reality of doing work that doesn't get compensation - the importance of being willing to give - why you shouldn't quit If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to Ryan Support the show (https://www.facebook.com/groups/157335752156211/)


The Valley of Death - Bruce Wuollet (Thu, 09 Apr 2020)
Bruce Wuollet joins Jerome Myers on the Myers Methods Presents Multifamily Missteps Podcast to discuss Bakerson's missteps on properties in Arizona. We learn the risk associated with properties that have chiller systems.  Bruce shares how they negotiated a $250,000 credit and how a strong economy made up for some of their challenges.  He also takes us through a discussion on the "valley of death" which is when you are writing checks to pay your mortgage and other obligations associated with the property Bruce believes that you have to be a rock in uncertain times and you shouldn't let the winds of change push you around. In this weeks show we learn about: - capital calls - dilution of equity - what happens when your property can't pay the mortgage and other bills - how a strong market can save you from unexpected challenges If you are interested in getting more multifamily investing education go to www.myersmethods.com Say hi to Jerome Say hi to Bruce Support the show (https://www.facebook.com/groups/157335752156211/)


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